UTI AMC soars 15% on heavy volumes, trades at 4-mth high on Tata deal buzz

According to media reports, Tata Group is in talks to buy majority stake in the company from PSU finance entities.

Shares of UTI Asset Management Company (AMC) hit an over four-month high of Rs 890.30, as they soared 15 per cent on the BSE in Monday’s intra-day trade amid reports that the Tata Group is in talks to buy majority stake in the company from public sector undertaking (PSU) finance entities. The stock traded at its highest level since August 18, 2022.

At 12:51 PM; UTI AMC was trading 13 per cent higher at Rs 873.35, as compared to 0.38 per cent rise on the S&P BSE Sensex. The average trading volume at the counter jumped multiple-fold with a