UCO Bank spurts on appointment Rajendra Kumar Saboo as executive director

22 Nov 2022 , 12:37 PM

Saboo was the chief general manager in Punjab National Bank heading strategic management, economic advisory, mis and data analytics. He has experience across multiple banking domains viz. branch banking, credit, hr, treasury, etc. The period of three years is effective from the date of the assumption of office or until further orders, whichever is earlier. Meanwhile, shares of UCO Bank rallied 41.3% in five trading sessions from its previous closing low of Rs 14.54 on 15 November 2022. The stock hit its 52-week high of Rs 21.35 today. The counter has jumped 95.34% from its 52-week low of Rs 10.52 hit on 26 June 2022. On the BSE, 160.31 lakh shares were traded in the counter so far compared with average daily volumes of 59.86 lakh shares in the past two weeks. The stock had outperformed the market over the past one month, up 66.26% compared with 3.09% rise in the Sensex. The scrip outperformed the market in past one quarter, up 80.11% as against Sensexs 4.03% rise. The scrip had also outperformed the market in past one year, up 53.93% as against Sensexs 4.58% rise. On the technical front, the stocks daily RSI (relative strength index) stood at 87.85. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. In daily chart, the stock is trading above its 50, 100 and 200 days simple moving average (SMA) placed at 13.14, 12.34 and 12.12 respectively. These levels will act as crucial support zones in near term. UCO Bank is a commercial bank. Its segments include treasury, corporate/wholesale banking, retail banking and other banking operations. It offers personal banking, corporate banking, international banking and rural banking services. As on 30 September 2022, the Government of India held 95.39% in UCO Bank. The PSU banks net profit jumped 145.6% to Rs 504.52 crore on a 6.6% rise in total income to Rs 4,964.83 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News