Stock prices of UCO and PSB soared in the past 1 month

Public sector undertaking (PSU) bank shares were soaring, with the market prices of two lenders, UCO Bank and Punjab & Sind Bank, rising by more than 145% in the previous month. During that time, the benchmark Nifty 50 increased by less than 1%, but the Nifty PSU Bank index increased by 23%.

On the National Stock Exchange (NSE), UCO Bank rose 10% to Rs 36.55 in intraday trade on Thursday, helped by a two-fold increase in trading volume. From a low of Rs 14.54 the previous day, the stock has soared by 151 percent. At the NSE counter and BSE counter, 227 million shares had been exchanged as of 11:09 AM. Punjab & Sindh Bank rose 4% in intraday exchanges to Rs 44.75. It has increased by 147% over the previous month.

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