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UCO Bank gains after allotting preferential shares to LIC

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rose 1.79% to Rs 34.20 at 11:31 on after the said it has allotted 7.17 crore equity to Corporation of at an issue price of Rs 37.74 per equity.

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P Sensex was up 104.27 points or 0.4% at 26,498.28.

On the BSE, 63,000 were traded on the counter so far as against the average daily volumes of 2.22 lakh in the past one quarter. The stock had hit a high of Rs 34.30 and a low of Rs 33.85 so far during the day. The stock had hit a 52-week high of Rs 50.15 on 1 December 2015. The stock had hit a 52-week low of Rs 27.80 on 15 February 2016. The stock had outperformed the market over the past one month till 29 November 2016, declining 3.31% compared with the Sensex's 5.54% fall. The scrip had, however, underperformed the market in past one quarter, sliding 16.52% as against the Sensex's 5.41% fall.

The mid-cap has equity capital of Rs 1488.03 crore. Face value per share is Rs 10.

The shares issued to Corporation of (LIC) will be under lock-in for a period of one year from the date of trading from the stock exchanges. LIC owned 11.88% stake in end September 2016.

reported net loss of Rs 384.83 crore in Q2 September 2016, compared with net profit of Rs 156.20 crore in Q2 September 2015. Total income declined 6.9% to Rs 4941.41 crore in Q2 September 2016 over Q2 September 2015.

The Government of held 77.54% stake in UCO Bank end September 2016.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 30 2016. 11:24 IST