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UCO Bank Shares Rally 20% After Reporting Encouraging Q4FY20 Results
Shares in UCO Bank on June 26, 2020 spurted as much as 20% after the public sector lender reported healthy result with net profit for the March ended FY20 quarter at Rs. 16.78 crore in comparison to a net loss of Rs.1,552 crore in the same quarter last year.The net income at the bank however stood steady at Rs 1,254.5 crore.
Also, another positive for the bank came in as improved NPA with gross NPA sliding to 16.77% in comparison to 19.45% in the previous quarter. Net NPA at the bank also improved at 5.45% from 6.34 percent QoQ. The other income rose to Rs 768.8 crore from Rs 366.7 crore last year.
Shares of UCO Bank closed at Rs. 16.14, up 15.53% on the BSE. Stock on November 21, 2019 hit a 52-week high price of Rs. 22.40 per share on the NSE.
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