{"id":137025,"date":"2024-10-21T13:42:33","date_gmt":"2024-10-21T08:12:33","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=137025"},"modified":"2024-10-21T13:42:37","modified_gmt":"2024-10-21T08:12:37","slug":"stock-under-50-jumps-6-after-reporting-50-yoy-increase-in-net-profits","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-under-50-jumps-6-after-reporting-50-yoy-increase-in-net-profits\/","title":{"rendered":"Stock under \u20b950 jumps 6% after reporting 50% YoY increase in net profits"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3633492524\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of the leading PSU bank witnessed a surge of over 6% following a 50% year-on-year increase in net profit and a reduction in non-performing assets (NPA) in Q2 FY25.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3734549992\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Share price variations:&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 56,372.34 crores, <strong><a href=\"https:\/\/portal.tradebrains.in\/stocks\/UCOBANK\" target=\"_blank\" rel=\"noreferrer noopener\">UCO Bank Ltd<\/a><\/strong>. rose to an intraday high of Rs. 48.40 representing a 6 percent increase from its previous closing price of Rs. 45.65 per share.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Reason for the Rise:&nbsp;<\/strong><\/h2><p>According to exchange filings, <strong>UCO Bank Ltd<\/strong>. reported a 50 percent year-on-year increase in net profit to Rs 603 crore, in Q2FY25 from Rs 402 crore in Q2FY24. On a quarter-on-quarter basis, net profit surged by 9.43 percent, rising from Rs. 551 crore in Q1 FY25.&nbsp;<\/p><p>Net interest income grew by 20 percent year-on-year to Rs. 2,301 crore, compared to Rs. 1,917 crore in the same period last year. Sequentially, net interest income increased by 2.08 percent from Rs. 2,254 crore in Q1 FY25. Gross Non-Performing Assets(NPA) stands at 3.18 percent in Q2FY25 from 3.32 percent in Q1FY25.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2641240781\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>For the first half of FY25, Net Interest Income rose by 16.02 percent to Rs. 4,555 crores, up from Rs. 3,926 crores in H1 FY24, while net profit showed an increase of 84.64 percent, reaching Rs. 1,154 crores compared to Rs. 625 crores in the previous year.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the company:&nbsp;<\/strong><\/h2><p>UCO Bank Ltd, a Government of India Undertaking, offers a range of banking solutions, including international services, NRI services, loans, deposits, e-banking, and direct tax collection through authorized branches.&nbsp;<\/p><p>As of October, the bank operates 3,247 domestic branches, with 34.5 percent in rural areas, 27.1 percent in semi-urban regions, 19.6 percent in urban areas, and 18.8 percent in metro areas. Additionally, it has two overseas representative offices, one additional office, and approximately 2,472 ATMs.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By<\/strong>: <strong>Joseph Pv<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading has-medium-font-size\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing<\/strong>.<\/p><div class=\"trade-after-content\" id=\"trade-3240502691\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of the leading PSU bank witnessed a surge of over 6% following a 50% year-on-year increase in net profit and a reduction in non-performing assets (NPA) in Q2 FY25.&nbsp; Share price variations:&nbsp; With a market capitalization of Rs. 56,372.34 crores, UCO Bank Ltd. rose to an intraday high of Rs. 48.40 representing a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[3565,23802,948,936,2597,6970,6972,6971,6977],"class_list":["post-137025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-bank-stock","tag-bank-stock-under-50","tag-stock-market","tag-stock-market-news","tag-stocks-to-watch","tag-uco-bank","tag-uco-bank-latest-news","tag-uco-bank-share-price","tag-why-did-uco-bank-share-jump-today"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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