Contact Your Financial Adviser Money Making MC
3
January 2018
 |
Bank (The Total Investment
& Insurance Solutions)
The
board of directors of the UCO Bank has approved the proposal to issue of equity
shares on preferential basis to Government of India against capital
contribution of Rs1,375cr subject to necessary approval. This capital infusion
is a part of government PSU banks recapitalization programme. This capital
support to the bank is a step in the right direction as it would improve
their loan book growth for quarters to come
beside giving room to provide for their bad loans. The
bank is trading at 0.6x FY17 P/BV. We have neutral outlook on the stock. The
Total Investment & Insurance Solutions
UCO Bank is currently trading at Rs30.7, up by
Rs0.35 or 1.15% from its previous closing of Rs30.35 on the BSE.
The scrip opened at Rs30.5 and has touched a high
and low of Rs31.4 and Rs30.15, respectively.The Total Investment & Insurance
Solutions
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