UCO Bank, opened higher today at Rs.14.05 from its close of Rs.13.59 yesterday. It went on to hit an intraday high at Rs.14.41. Its 20% UC for the day is at Rs.16.30 while 52-week high is at Rs.16.76.
The stock price has reacted positively to the news that the Kolkata-based lender has requested the RBI to remove it from the prompt corrective action (PCA) framework following an improvement in its financial parameters.
The Bank has been posting a profit for the past four consecutive quarters. UCO Bank has been under PCA since May 2017.