UTI AMC Highlights 10-Year High Risk-Reward in Largecaps, Banks Target 14% Credit Growth

UTI AMC’s assets under management climbed to $81 billion as of 30 September 2026, a 20% year‑over‑year lift that underscores growing investor appetite for broad equity exposure.

The agency’s research notes that largecap valuations are now the most attractive in over a decade, with the Nifty 50 trading at a price‑to‑earnings ratio of 18.5—down from 22 in early 2025.

Private‑sector banks are poised for mid‑teens credit expansion, with ICICI and HDFC projecting 14‑15% growth in net interest income, while their price‑to‑book multiples sit at 1.5‑2×, far below the 4× average for the banking sector.

Telecom giants continue to dominate, with Airtel and Jio reporting ARPU rises of 8% and 10% respectively, driven by 5G roll‑out and subscription uptick.

Analysts expect the largecap rally to continue into Q4, as credit growth aligns with a projected 7% GDP pace, while banks’ margins should widen by 0.5% in the next quarter.