Mirae Asset MF hikes stake in UTI AMC

Mirae Asset Mutual Fund bought 0.018% stake in UTI Asset Management Company on 22 December 2020.

Post acquisition, Mirae Asset Mutual Fund's stake in UTI Asset Management Company has increased to 5.003% stake from 4.984% stake held earlier. The transaction took place in open market. The announcement was made after market hours yesterday, 5 January 2021.

UTI Asset Management Company (UTI AMC) reported 12.4% fall in consolidated net profit to Rs 118.59 crore on 13.8% rise in total income to Rs 287.01 crore in Q2 FY21 over Q2 FY20.

Shares of UTI Asset Management Company fell 1.28% to Rs 544.75. UTI AMC is Investment Manager to UTI Mutual Fund. It has a countrywide network of branches along with a diversified distribution network.

 

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