United Bank of India spiked 8.44% at Rs 43.70 at 14:15 IST on BSE after financial services secretary was quoted as saying that the bank is likely candidate for merger this fiscal.
Meanwhile, the S&P BSE Sensex was up 419.38 points or 1.6% at 26,666.17.
On BSE, so far 2.99 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter.
The stock hit a high of Rs 45.20 and a low of Rs 41 so far during the day. The stock had hit a 52-week high of Rs 61.65 on 4 July 2014. The stock had hit a record low of Rs 23.40 on 21 February 2014.
The stock had underperformed the market over the past one month till 8 October 2014, sliding 14.07% as compared to the Sensex's 3.93% fall. The scrip had also underperformed the market in the past one quarter, slumping 27.78% as compared to the Sensex's 2.6% rise.
The small-cap bank has equity capital of Rs 716.66 crore. Face value per share is Rs 10.
Also Read
United Bank of India's net profit jumped 47.3% to Rs 65.89 crore on 4.7% growth in total income to Rs 3004.25 crore in Q1 June 2014 over Q1 June 2013.
The Government of India holds 89.47% stake in United Bank of India (as per the shareholding pattern as on 30 June 2014).
Powered by Capital Market - Live News