UCO Bank zooms 16% on heavy volume after RBI lifts PCA curbs

UCO bank had requested the regulator to remove the PCA tag after it had successively posted profits for three quarters in FY21

Shares of UCO Bank zoomed 16 per cent to Rs 14.85 apiece in the intra-day deals on Thursday after the Reserve Bank of India (RBI) removed the public sector lender from its PCA (Prompt Corrective Action) framework citing improvement in its financial and credit profile.

The stock witnessed massive volume of 2.87 million shares in just first 15 minutes of trade, as against the 2-week daily average volume of 0.4 million shares on the BSE. At 10:05 am, the stock was up 10 per cent at Rs 14.14 on the BSE as against a 0.17 per cent decline in