UTI Asset Management Company Ltd’s shares were up by 1.01 per cent as the company is set to inaugurate 29 new financial centres (UFCs) on September 29, 2023.

Imtaiyazur Rahman, MD and CEO, said, “We are constantly stepping up our network across the country with an aim to be closer to our investors and provide our comprehensive offerings seamlessly. There is immense growth potential in upcoming non-metro cities where people are willing to invest. We endeavour to develop their understanding on mutual fund investments and provide better accessibility to our products in these cities. The expansion of our financial centres with these 29 new offices aligns with our vision to simplify financial services and make them accessible to everyone.”

In the East, centres will be come up in BiharSharif and Ara (Bihar), Nagaon (Assam), Puri and Angul (Odisha), Deoghar (Jharkhand), Bankura and Jalpaiguri (West Bengal). A centre will be inaugurated in Hisar (Haryana) in the North. In the South, the centres will open in Anantapur and Kurnool (Andhra Pradesh), Karimnagar and Khammam (Telangana), Udupi (Karnataka), Malappuram, Palakkad, Kannur, and Alappuzha (Kerala), as well as Erode (Tamil Nadu). Western India will see new centres in Korba (Chhattisgarh), Sagar and Ujjain (Madhya Pradesh), Chandrapur, Nanded, Ahmednagar, Satara, Dhule, and Sangli (Maharashtra), and Gandhidham (Gujarat).

The shares were up by 1.01 per cent to Rs 797 at 10.30 am on the BSE.