UCO Bank rose 1.52% to Rs 36.80 at 12:05 IST on BSE after the bank said its board is considering a proposal for issue of tier II bonds for inclusion in tier II capital totalling to Rs 1000 crore to LIC of India.
The issue is a private placement of unsecured redeemable non-convertible fully paid up Basel III compliant tier II bonds in the nature of debentures.
The announcement was made during market hours today, 29 March 2017.
Meanwhile, the S&P BSE Sensex was up 88.02 points, or 0.3% to 29,497.54. The S&P BSE Mid-Cap index was up 39.80 points or 0.29% to 13,951.45.
On the BSE, 76,475 shares were traded in the counter so far, compared with average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 36.80 and a low of Rs 36.20 so far during the day. The stock had hit a 52-week high of Rs 46.60 on 15 July 2016. The stock had hit a 52-week low of Rs 29.50 on 9 November 2016.
The mid-cap company has equity capital of Rs 1559.73 crore. Face value per share is Rs 10.
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UCO Bank reported net loss of Rs 437.09 crore in Q3 December 2016 as against net loss of Rs 1497.01 crore in Q3 December 2015. Operating income declined 1.4% to Rs 4864.21 crore in Q3 December 2016 over Q3 December 2015.
The Government of India held 76.67% stake in UCO Bank as on 31 December 2016 as per the shareholding pattern.
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