United Bank of India hit a 6-month high today morning at Rs.12.48, going up 11.5%. Its 52-week high is at Rs.19.50. Volumes have gone up over 3 times.
In this recently announced round of recapitalization, United Bank is getting Rs.2159 crore out of the total Rs.28,615 crore planned.
United Bank said that the Finance Ministry had informed the bank about the capital infusion on December 26.
Among the seven PSU banks that are to get funds, apart from United Bank, includes Bank of India, Oriental Bank, Bank of Maharashtra, Uco Bank.