{"id":74203,"date":"2022-11-21T12:52:00","date_gmt":"2022-11-21T07:22:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=74203"},"modified":"2022-11-21T13:40:37","modified_gmt":"2022-11-21T08:10:37","slug":"psu-banks-jump-more-than-17-to-reach-new-52-week-high","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/psu-banks-jump-more-than-17-to-reach-new-52-week-high\/","title":{"rendered":"PSU bank stock jumps more than 17% to reach new 52-week high\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2324261267\"><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 UCO Bank opened at Rs 15.85 on Monday and gained as much as 17 percent to reach its new 52-week high of Rs 18.65 in the early trading hours. In the past five days, the stock has gained approximately 25 percent.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3513731523\"><!-- 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><p>UCO Bank, formerly United Commercial Bank, is an Indian public sector bank that is engaged in providing a wide range of banking and financial services including Retail Banking, Corporate Banking, and Treasury Operations.&nbsp;<\/p><p>In Q2FY23, the bank reported a multifold jump in its net profit which stood at Rs 505 crore in the period as against Rs 204.4 crore in the same period a year earlier. The revenue of the bank was at Rs 4,794.76 crore in the quarter under review compared to Rs 170.08 crore in Q2FY22.&nbsp;<\/p><p>The lender&#8217;s gross NPA fell to 6.58 percent at the end of the second quarter from 8.98 percent, while the net NPA was 1.99 percent, down from 3.37 percent in the same quarter the previous year.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4234345528\"><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>Similar to other PSU bank stocks, the shares of this PSU bank have also rallied by approximately 49 percent in a month while the Nifty Bank has risen by 4 percent in a longer time frame of six months, the stock has logged a return of 60 percent while the index has increased by 24 percent.&nbsp;<\/p><p>The bank has a market capitalization of Rs 22,118 Crores. The President Of India holds a 95.39% stake and the Life Insurance Corporation Of India holds a 1.24% stake in the bank.&nbsp;<\/p><p><strong>Written by Anoushka Roy<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3589072012\"><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 UCO Bank opened at Rs 15.85 on Monday and gained as much as 17 percent to reach its new 52-week high of Rs 18.65 in the early trading hours. In the past five days, the stock has gained approximately 25 percent.&nbsp; UCO Bank, formerly United Commercial Bank, is an Indian public sector [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":26353,"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":[4865,31],"tags":[],"class_list":["post-74203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PSU bank stock jumps more than 17% to reach new 52-week high\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/psu-banks-jump-more-than-17-to-reach-new-52-week-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PSU bank stock jumps more than 17% to reach new 52-week high\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of UCO Bank opened at Rs 15.85 on Monday and gained as much as 17 percent to reach its new 52-week high of Rs 18.65 in the early trading hours. 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