UCO Bank rose 1.89% to Rs 37.65 at 9:26 IST on BSE after the bank said its board has considered the proposal for issue of equity shares to Government of India on preferential basis for an amount of Rs 935 crore.
The announcement was made after market hours yesterday, 28 March 2016.Meanwhile, the S&P BSE Sensex was down 20.36 points or 0.08% at 24,946.04.
On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 1.96 lakh shares in the past two weeks. The stock hit a high of Rs 37.90 and a low of Rs 37.45 so far during the day. The stock had hit a 52-week high of Rs 71.20 on 15 April 2015. The stock had hit a 52-week low of Rs 27.80 on 15 February 2016.
The mid-cap state-run bank has equity capital of Rs 1075.59 crore. Face value per share is Rs 10.
UCO Bank's board of directors at its meeting held on 28 March 2016, considered the proposal for issue of equity shares to Government of India on preferential basis for an amount of Rs 935 crore subject to necessary approvals from shareholders and other authorities.
UCO Bank reported net loss of Rs 1497.01 crore in Q3 December 2015 compared with net profit of Rs 303.59 crore in Q3 December 2014. Total income declined 9.4% to Rs 4934.63 crore in Q3 December 2015 over Q3 December 2014.
The Government of India held 72.83% stake in UCO Bank (as per the shareholding pattern as on 31 December 2015).
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