Wednesday , October 20 2021

UCO Bank gains on getting nod for issuance of preferential shares to government

UCO Bank is currently trading at Rs. 11.35, up by 0.06 points or 0.53% from its previous closing of Rs. 11.29 on the BSE.

The scrip opened at Rs. 11.45 and has touched a high and low of Rs. 11.46 and Rs. 11.30 respectively. So far 63915 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 16.76 on 26-Jun-2020 and a 52 week low of Rs. 10.60 on 19-Apr-2021.

Last one week high and low of the scrip stood at Rs. 11.74 and Rs. 10.87 respectively. The current market cap of the company is Rs. 11197.81 crore.

The promoters holding in the company stood at 94.44%, while Institutions and Non-Institutions held 1.70% and 3.86% respectively.

UCO Bank has received approval from shareholders for issuance of preferential shares to the government for Rs 2,600 crore capital infusion. The shareholders have also approved adjusting the bank’s accumulated losses by March 2020 against the balance in the share premium account. The decisions were taken at the extraordinary general meeting of the shareholders held on May 7, 2021. These proposals have been considered and approved by the shareholders through remote e-voting and e-voting during the meeting.

The shareholders have approved issuance of 203,76,17,554 equity shares at an issue price of Rs 12.76 per equity share aggregating to Rs 2,600 crore on preferential basis to Government of India.

UCO Bank is a commercial bank and a Government of India Undertaking. The Bank offers wide range of services includes Personal Banking, Corporate Banking, International Banking, Rural Banking and other services.

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