UCO Bank hit an upper circuit of 20% at Rs 29.10, extending gains for the seventh trading session.
Shares of UCO Bank surged 43.35% in seven consecutive sessions.On the BSE, 1.70 crore shares were traded in the counter so far compared with average daily volumes of 46.74 lakh shares in the past two weeks.
The stock was currently frozen at its 52-week high of Rs 29.10. The stock hit a 52-week low of Rs 10.52 on 20 Jun 2022.
The stock had outperformed the market over the past one month, rising 92.46% compared with 1.06% rise in the Sensex.
The counter had outperformed the market in past one quarter, surging 134.87% as against Sensex's 3.1% rise.
The scrip had also outperformed the market in past one year, advancing 112.56% as against Sensex's 7.14% rise.
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On the technical front, the stock's daily RSI (relative strength index) stood at 90.557. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 16.04, 13.94 and 12.77 respectively.
UCO Bank is engaged in providing wide range of banking and financial services including retail banking, corporate banking and treasury operations. GoI's ownership stood at 95.39% as on 30 September 2022.
The bank's standalone net profit surged 145.6% to Rs 504.52 crore on 6.6% rise in total income to Rs 4964.83 crore in Q2 FY23 over Q2 FY22.
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