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UCO Bank Plunges 3%; BSE BANKEX Index Down 0.2%
Wed, 23 Oct 9:47

UCO Bank Plunges 3%; BSE BANKEX Index Down 0.2%Image source: phive2015/www.istockphoto.com

UCO Bank share price has plunged 3% and is presently trading at Rs 42.6.

Meanwhile, the BSE BANKEX index is at 58,200.7 (down 0.2%).

Among the top losers in the BSE BANKEX index today are IDFC FIRST BANK (down 2.6%) and Bank of Baroda (down 1.6%).

HDFC Bank (up 1.2%) and Kotak Bank (up 0.4%) are among the top gainers today.

Over the last one year, UCO Bank has moved up from Rs 35.7 to Rs 42.6, registering a gain of Rs 6.9 (up 19.3%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 58,200.7, registering a gain of 20.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.2%), ICICI Bank (up 35.1%) and Federal Bank (up 31.7%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,039.1 (down 0.2%).

The top losers among the BSE Sensex today are NTPC (down 2.6%) and Power Grid Corp. (down 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,407.8 (down 0.3%). IOC and NTPC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,039.1, registering a gain of 15,467.2 points (up 24.0%).

UCO Bank Financial Update...

UCO Bank net profit grew 50.1% YoY to Rs 6,027 million for the quarter ended September 2024, compared to a profit of Rs 4,017 million a year ago. Net sales rose 16.5% to Rs 60,784 million during the period as against Rs 52,188 million in July-September 2023.

For the year ended March 2024, UCO Bank reported 8.5% decrease in net profit to Rs 16,716 million compared to net profit of Rs 18,263 million during FY23. Revenue of the company grew 23.8% to Rs 218,543 million during FY24.

The current Price to earnings ratio of UCO Bank, based on rolling 12 month earnings, stands at 23.4.

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