UCO Bank rose 1.53% to Rs 33.25 at 11:15 IST on BSE after the bank announced that it raised capital by issue of Basel III compliant additional tier I bonds on private placement basis.
The announcement was made after market hours on Friday, 4 November 2016.Meanwhile, the S&P BSE Sensex was up 231.48 points or 0.85% at 27,505.63.
On BSE, so far 42,396 shares were traded in the counter as against average daily volume of 1.63 lakh shares in the past one quarter. The stock hit a high of Rs 33.50 and a low of Rs 33 so far during the day. The stock had hit a 52-week high of Rs 50.15 on 12 January 2015. The stock had hit a 52-week low of Rs 27.80 on 15 February 2016. The stock had underperformed the market over the past one month till 4 November 2016, dropping 13.01% compared with the Sensex's 3.74% fall. The scrip had also underperformed the market in past one quarter, declining 24.54% as against the Sensex's 1.59% decline.
The mid-cap bank has equity capital of Rs 1488.03 crore. Face value per share is Rs 10.
UCO Bank announced that it raised non-convertible, unsecured, subordinated fully paid-up Basel III compliant perpetual debt instruments eligible for inclusion in additional tier I capital of Rs 750 crore through private placement.
UCO Bank reported net loss of Rs 440.56 crore in Q1 June 2016 compared with net profit of Rs 256.70 crore in Q1 June 2015. Total income declined 8.5% to Rs 4727.93 crore in Q1 June 2016 over Q1 June 2015.
The Government of India held 77.54% stake in UCO Bank (as per the shareholding pattern as on 30 September 2016).
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
