BUZZ-India's UTI Asset Management gains on Q2 profit rise

Reuters10-28
BUZZ-India's UTI Asset Management gains on Q2 profit rise

** Shares of UTI Asset Management UTIA.NS rise 4.5% to 1,199 rupees

** Investment management co posted a 31% rise in Q1 consol net profit to 2.39 bln rupees ($28 mln), total rev from ops up 33% Y/Y

** Overall net flows remain positive, hybrid funds recorded decent inflows, said analysts at Centrum Broking

** Fourteen analysts covering the stock on avg have a "hold" rating; median PT is 1,232 rupees - LSEG data

** Stock up 42% so far this year

($1 = 84.0725 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))

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