The Hindu Business Line : UTI Bank up on growth hopes

The Rs 10-face valued UTI Bank stock hit its 52-week high of Rs 430.90 on Monday on the back of expectations of continued growth with better margins. The stock, which closed at Rs 419.30 on the NSE, is expected to gain in particular from the bank's advances on the retail credit front. The latter has grown by 66 per cent in the last quarter. Incidentally, analysts have also noted that the bank's operating expenses are rising due to an increase in the number of branches and the expansion of manpower base.

More than 1,500 employees are known to have been added in the second quarter. Trading volumes stood at over 15 lakh shares on Monday.

Nilanjan Dey

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