Shares of first mutual fund company in India jumped by 10 per cent in today's trade !

Shares of this company rose more than 10 per cent on Monday after media reported that the Tata Group was in final talks to purchase a majority stake in this company from the state-owned company.

Tata has received a buy-in-principle from global investment management firm T Rowe Price Group, another major investor in AMC. T Rowe Price Group owns approximately 23 per cent.
Tata's interest in acquiring UTI AMC this August. If the deal goes ahead and Tata AMC and UTI AMC merge, the combined company will become India's fourth largest wealth manager.

UTI Asset Management Company was incorporated as UTI Asset Management Company Private Limited, a limited liability company under the Companies Act 1956. After that, by a special resolution of the general meeting of shareholders on September 18, 2007, we changed the organization to a public limited company, changed the company name to "UTI Asset Management Company Limited", and created a new Articles of Incorporation on November 14th. 2007 he was issued by RoC.

The stock opened at Rs 799.25 and touched its Day high at Rs 908.00. The 52-week high of the shares were at Rs 1,109.35 whereas the stock made its 52-week low at Rs 595.00. Presently, the market cap of the company is Rs 10,922 crore. The scrips closed at Rs 848.00 a piece on Monday.