UCO Bank rose 10.86% to Rs 22.45 at 11:16 IST on BSE after fresh capital infusion of Rs 3076 crore by the Government of India.
The announcement was made after market hours yesterday, 31 December 2018.Meanwhile, the S&P BSE Sensex was down 58.31 points, or 0.16% to 36,010.02.
On the BSE, 6.75 lakh shares were traded in the counter so far compared with average daily volumes of 1.5 lakh shares in the past two weeks. The stock had hit a high of Rs 23.40 and a low of Rs 21.35 so far during the day. The stock hit a 52-week high of Rs 36.75 on 25 January 2018. The stock hit a 52-week low of Rs 15.30 on 9 October 2018.
UCO Bank announced that the Government of India conveyed its decision to invest Rs 3076 crore in the equity of the bank by way of preferential allotment. The bank said it received the amount on 31 December 2018.
UCO Bank reported net loss of Rs 1136.44 crore in Q2 September 2018 as against net loss of Rs 622.56 crore in Q2 September 2017. Total income rose 0.22% to Rs 3749.18 crore in Q2 September 2018 over Q2 September 2017.
The Government of India held 90.798% stake in UCO Bank (as on 30 September 2018).
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