Fundamental Analysis

UTI ASSET MANAGEMENT 

Ticker : 543238 
BUY : Rs 555.25 
Target : Rs 615

UTI Asset Management Company Limited is an India-based portfolio manager. Along with being an investment manager to schemes of mutual fund, it also manages offshore funds and provides support to the specified undertaking of the Unit Trust of India. On a quarterly consolidated financial front, the income from interest was reported at Rs 4.47 crore for Q2FY21, which is an increase by 15.8 per cent as compared to Rs 3.86 crore reported for Q2FY20. The total income calculated for Q2FY21 gained by 3.62 per cent to Rs 22.59 crore from Rs 21.80 crore in Q2FY20. For Q2FY21, the company reported a net profit of Rs 8.839 crore as compared to the net profit of Rs 11.937 crore in Q2FY20, falling by almost 25 per cent. UTI is one of the largest AMC in terms of AUM and also among the top 10 mutual funds in India. Having a multi-channel distribution network along with strong financial & operating metrics and also, a long-term record of wealth creation, we recommend a BUY for this stock.