BSE Finance: These asset management companies were soaring on the bourses today

The stocks of these companies were up by more than 11 per cent.

UTI Asset Management Company Ltd is primarily engaged in the activities of raising funds for and rendering investment management services to schemes of UTI Mutual Fund. The shares of UTI Asset Management jumped in today’s trading session after CNBC TV reported that Tata Asset Management might buy a stake in the company. The shares rallied by 15.01 per cent and the scrip ended at Rs 861.80. 

HDFC Asset Management Company Ltd is one of the largest AMCs in India that offers a large suite of savings and investment products across asset classes. The shares climbed as a large block trade took place on the counter. On the BSE, at Rs 1944 per share, a 5.6 per cent stake in the company changed hands. At present, LIC, HDFC and Aberdeen Investment Management have a stake greater than 5.6 per cent in the company. In a report, CNBC- TV18 said that Aberdeen Investment might have sold its stake in the company. The shares rallied by 11.48 per cent and the scrip ended at Rs 2180.75.