UCO Bank to get Rs.940 crores Capital Infusion from Government of India

Ministry of Finance, Government of India, vide its notification dated February 15, 2011 communicated its decision to infuse Rs.940 crores (Rupees Nine hundred Forty crore) in the Tier I capital of UCO Bank by way of preferential allotment of equity in favour of Government of India.

In this regard the Board of Directors of the Bank will consider above proposal on February 19, 2011.

The stock closed the day at Rs.104.70, up by Rs.0.50 or 0.48%. The stock hit an intraday high of Rs.105.65 and low of Rs.103.05.

The total traded quantity was 2.64 lakhs compared to 2 week average of 6 lakhs.

Source : Equity Bulls

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