UCO Bank approves allocation of capital of Rs.1150 Crore by The Government Of India

UCO Bank has received a communication from Ministry of Finance, Government of India vide its letter F No. F/38/2014-BOA dated 16.03.2017 informing capital allocation of Rs.1150 Crore in our Bank as a part of turnaround linked capital infusion plan.

The Bank has placed the proposal seeking approval of the Board by circulation for issue of shares to Government of India against the proposed capital infusion of Rs.1150 Crore.

Shares of UCO BANK was last trading in BSE at Rs.35.9 as compared to the previous close of Rs. 35.45. The total number of shares traded during the day was 386536 in over 1231 trades.

The stock hit an intraday high of Rs. 36.55 and intraday low of 35. The net turnover during the day was Rs. 13925500.

Source : Equity Bulls

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