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Analysts are zeroing in on the UTI Bank stock for what some of them say are the bank's growth plans, reflected as they are on its expanding network. The bank, which has lately reported stronger treasury profits and stable asset quality, is planning to enter niche areas in a bigger manner. These include wealth management and priority banking, aimed at the mid-level customer.

Investment circles also refer to plans on raising capital, creation of an asset management outfit and rolling out newer brick and mortar infrastructure.

Institutions are also keen on the stock. At the end of December quarter, HSBC Financial Services holds 4.95 per cent followed by Barclays 4.93 per cent, Citigroup 4.43 per cent, UBS Securities 3.01 per cent, Goldmansachs 1.56 per cent, ICICI Prudential Life Insurance 1.32 per cent and UTI's ULIP holds 1.27 per cent.

The Rs 10-face value stock on Monday closed 2.3 per cent lower at Rs 502.70 after reaching a high of Rs 522 on the NSE. A total volume of 2.94 lakh shares was recorded.

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Nilanjan Dey

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