United Bank of India rose 2.69% to Rs 24.80 at 14:27 IST on BSE, with the stock extending recent gains.
Meanwhile, the S&P BSE Sensex was up 14.53 points or 0.05% at 27,884.89
On BSE, so far 2.25 lakh shares were traded in the counter as against average daily volume of 79,515 shares in the past one quarter.
The stock hit a high of Rs 25.30 and a low of Rs 24.40 so far during the day. The stock had hit a 52-week high of Rs 48.90 on 18 August 2014. The stock had hit a record low of Rs 21.35 on 13 August 2015.
The small-cap bank has equity capital of Rs 839.52 crore. Face value per share is Rs 10.
Shares of United Bank of India have gained 15.08% in three trading days from recent low of Rs 21.55 on 13 August 2015. The stock gained 5.46% to settle at Rs 24.15 yesterday, 17 August 2015 after the bank during market hours yesterday, 17 August 2015, announced reduction in interest rate on domestic term deposits by 25-50 basis points across various maturities with effect from 21 August 2015.
United Bank of India revised interest rates for domestic term deposits of less than Rs 1 crore to 7% from 7.25% in the maturity bucket between 181 days to 269 days. For domestic term deposits between Rs 1 crore to Rs 5 crore, the interest rates was revised to 7% from 7.25% in the maturity bucket between 181 days to 269 days. For domestic term deposits above Rs 5 crore, the interest rates was revised to 7% from 7.25% in the maturity bucket between 181 days to 269 days.
United Bank of India revised interest rates for domestic term deposits of less than Rs 1 crore to 7.25% from 7.5% in the maturity bucket between 270 days to less than 1 year. For domestic term deposits between Rs 1 crore to Rs 5 crore, the interest rates was kept unchanged at 7.25% in the maturity bucket between 270 days to less than 1 year. For domestic term deposits above Rs 5 crore, the interest rates was kept unchanged at 7.25% in the maturity bucket between 270 days to less than 1 year.
United Bank of India revised interest rates for domestic term deposits of less than Rs 1 crore to 7.5% from 7.75% with maturity of 1 year. For domestic term deposits between Rs 1 crore to Rs 5 crore, the interest rates was revised to 7.25% from 7.5% with maturity of 1 year. For domestic term deposits above Rs 5 crore, the interest rates was revised to 7.25% from 7.5% with maturity of 1 year.
For maturities above one year, United Bank of India revised interest rates for domestic term deposits to 7.25% from 7.5% for deposits less than Rs 1 crore and to 7% from 7.5% for deposits above Rs 1 crore.
United Bank of India's net profit fell 20.7% to Rs 52.22 crore on 3.6% decline in total income to Rs 2896.75 crore in Q1 June 2015 over Q1 June 2014.
The Government of India held 82% stake in United Bank of India (as per the shareholding pattern as on 30 June 2015).
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