UCO Bank Board approves Preferential Issue of Equity Shares to LIC

The Committee of Board of Directors of UCO Bank approved the proposal for issue of 3,13,75,874 equity shares to Life Insurance Corporation of India on preferential basis, at a price as may be determined in accordance with SEBI (ICDR) Regulations 2009, subject to approval of Government of India/RBI and Shareholders of the Bank.

The UCO Bank stock closed the day at Rs.84.40, down by Rs.5.65 or 6.27%. The stock hit an intraday high of Rs.93 and low of Rs.82.95.

The total traded quantity was 10.22 lakhs compared to 2 week average of 7.90 lakhs.

Source : Equity Bulls

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