UCO Bank share price: The stock surged 5.65 per cent to hit a 52-week high of Rs 51.60. At this price, the scrip has gained 25.21 per cent in five consecutive trading sessions.
Nithin Kamaths comments come against the backdrop of a major mishap at UCO Bank earlier this month, wherein the state-owned lender erroneously transferred a total of Rs 820 crore through mobile-based Immediate Payment Service (IMPS) to some customers due to a technical glitch
UCO Bank Latest News: In a unique and conciliatory move, the recovery department of the public sector UCO Bank has chosen to celebrate Diwali by gifting boxes of sweets to the top 10 defaulters from each of its branches. The decision was conveyed through an internal letter issued by the bank, emphasizing that these defaulters were once valued customers of the bank, recognizing their past association.
PNB and Central Bank of India are likely to generate ROA of 0.1-0.3 per cent in FY24e but they are trading at 0.9-1.4 times FY24e ABV that looks unreasonably high, said Dalal & Broacha Stock Broking