UCO Bank zoomed 17.73% to Rs 34.20, extending gains for eight consecutive session.
The stock has added 68.47% in eight sessions, from its recent closing low of Rs 20.30 recorded on 2 December 2022.
The scrip surged 18.59% to hit the day's high at Rs 34.45, which is also a 52-week high for the counter.
On the technical front, the stock's daily RSI (relative strength index) stood at 92.426. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 16.43, 14.14 and 12.87, 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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