UCO Bank approves raising of Tier I and Tier II Capital

The Board of Directors of UCO Bank at its meeting held on June 18, 2016, has approved the proposal for raising of Tier I Capital to the tune of Rs.4,243 Crore through issue of AT-1 Bonds, issue of equity shares through FPO / Preferential Issue / ESOPs / QIP etc.

The Board has also approved the proposal for raising Tier II Capital to the tune of Rs. 1500 Crore through issue of Tier II Bonds during the year financial years 2016-17 and 2017-18 depending upon the market conditions.

Shares of UCO BANK was last trading in BSE at Rs.39.15 as compared to the previous close of Rs. 38.5. The total number of shares traded during the day was 507246 in over 1730 trades.

The stock hit an intraday high of Rs. 39.5 and intraday low of 38.35. The net turnover during the day was Rs. 19762051.

Source : Equity Bulls

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