UCO Bank tumbled at 9.47% in five straight sessions. The stock outperformed the market in December 2022, soaring 25.21% against Sensex’s decline of 3.31%.
The scrip outperformed the market in the previous quarter, surging 150.21% against Sensex’s 3.66% rise. The scrip outperformed the market in 2021, climbing 119.38% compared to Sensex’s 0.46% fall.
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The stock was trading above its 50-day simple moving average (SMA) placed at 24.03, 100-day simple moving average (SMA) placed at 18.05, and 200-day simple moving average (SMA) placed at 14.80.
The public sector bank provides various financial and banking services, including corporate banking, treasury operations and retail banking. The Government of India owns a 95.39% stake in UCO Bank as on September 30 2022.
On a standalone basis, the net profit of UCO Bank soared 145.6% to Rs 504.52 crore on a 6.6% increase in total income to Rs 4964.83 crore in July-September of FY23 over July-September of FY22.
