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Shares of UTI Asset Management Company (AMC) surged more than 6 percent on April 26 morning to hit a fresh 52-week high of Rs 1,005.15 after the company posted a robust set of numbers for the March quarter. The company reported a 90 percent on-year surge in profit to Rs 163 crorealong with a38 percent increase in revenue toRs 416 crore. InCred Equities said UTI AMC schemes improving performance led to steady inflow and healthy AUM, rationalisation of operating expenses strengthened operating performance and the company has a favourable risk-reward ratio. The brokerage retained its %u201Cadd%u201D rating on the stock and raised the target price to Rs 1,100 from Rs 1,050.