Shares of UCO Bank are on a roll and have delivered over 170% return to its shareholders in the last 3 months
Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking
Shares of UCO Bank hit its 52-week high of Rs 38.15 on January 16, 2023 and a 52-week low of Rs 10.52 on June 20, 2022
UCO Bank reported a more than two-fold jump in its net profit at Rs 504.52 crore for the quarter ended September 2022. Profit in the year-ago period stood at Rs 205.39 crore
The bank's board will consider the proposal for raising Tier I Capital aggregating up to Rs 1,000 crore in the form of Additional Tier I Bonds in one or more tranches
The rise in the share price of UCO Bank can be attributed to heavy volumes of shares traded on the exchanges
"I'm not comfortable with a sharp run in some of the smaller PSU banks. Many of them are trading P/BVs that are higher than SBIs," says Sunil Nyati of Swastika Investmarts
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Story by: Tanya Aneja
Designed by: Pragati