UTI AMC hits new high ahead of results, rallies 111% from October lows

The stock hit a new high of Rs 994, up 79 per cent from its initial public offer issue price of Rs 554 per share

Shares of UTI Asset Management Company (AMC) hit a new high of Rs 994 as they rallied 8 per cent on the BSE in intra-day trade on Wednesday, in an otherwise weak market, on expectations of good earnings.

The stock of the AMC surpassed its previous high of Rs 947.20 touched on July 23, 2021. It traded at its highest level since its stock market debut on October 12, 2020. In comparison, the S&P BSE was down 0.67 per cent at 52,226 points at 09:52 am.

In the past one week, the stock has outperformed the market by surging nearly 15 per