UTI AMC up 8%

UTI AMC has been among the top five gainers on the BSE since the opening bell today morning; the stock opened more than 1.5% higher at Rs.648.50 and rose to Rs.689, up 8%. Its 52-week high is at Rs.1025.

The stock price surged on news that yesterday, PPFAS Mutual Fund bought 1.2 million shares, which is 0.88% stake in the company.

This was bought via a block deal on the NSE at a price of Rs.636/share, totaling Rs.71.40 crore.

This AMC has Bank of Baroda, SBI and LIC each holding 9.98% and PNB with 15.22%. T. Rowe Price International holds another 22.97%.

The stock had got listed in Oct’20 at Rs.554.