The Fund House That is Getting an Upgrade, Despite the Odds
India’s oldest asset manager posted another quarter of shrinking market share. So why did analysts upgrade? UTI Asset Management’s third quarter was a study in contradictions. Reported profit crashed 20% year-on-year to Rs 1.2 billion, but beat Centrum’s estimate of Rs 1.1 billion. Strip out one-time charges, and core profit collapsed 69% to just Rs … Read more