|Bid||0.00 x 0|
|Ask||20.30 x 0|
|Day's Range||19.50 - 20.50|
|52 Week Range||18.25 - 44.75|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
UCO Bank dropped to its lowest in 11 years after India’s federal investigative agency registered a case against UCO’s former chairman for cheating the state-run lender.
The Central Bureau of Investigation (CBI) said on Saturday it has filed a case against a former chairman of state-run UCO Bank and several business executives alleging criminal conspiracy that caused a loss of 6.21 billion rupees ($95.17 million). Police said officials at the bank had colluded with private infrastructure firm Era Engineering Infra Ltd, and investment banking firm Altius Finserve Pvt Ltd, to siphon bank loans. CBI said in a statement that Arun Kaul, the bank's chairman between 2010-2015, had helped clear the loan.
As a small-cap finance stock with a market capitalisation of ₹45.74B, the risk and profitability of UCO Bank (NSEI:UCOBANK) are largely tied to the underlying economic growth of the regionRead More...
India's state-run UCO Bank said it has $411.82 million in exposure to fraudulent transactions carried out at Punjab National Bank (PNB). PNB, India's second-largest state-run lender, said on Wednesday that it had detected fraudulent transactions worth $1.77 billion at a single Mumbai branch that had benefited "a few select account holders", and that it had reported the matter to law enforcement agencies. UCO Bank, in a filing to the Bombay Stock Exchange late on Saturday, said its Hong Kong branch granted loans against letters of credit issued by PNB and was "fully confident" of receiving payment from PNB.
India’s state-owned UCO Bank said it has exposure of $411.8 million in the nearly $2 billion bank fraud perpetrated against Punjab National Bank, a case linked to billionaire jeweler Nirav Modi.
Improvement in profitability and outperformance against the industry can be important characteristics in a stock for some investors. Below, I will assess UCO Bank’s (NSEI:UCOBANK) track record on a highRead More...