Stock market analyst Hitendra Vasudeo has maintained 'buy' rating on UCO Bank Ltd stock to achieve a target of Rs 120 in 1-2 trading sessions.

According to analyst, the interested investors can buy the stock with strict stop loss of Rs 108.

The stock of the company, on Sep 03, closed at Rs 117.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 120 and a low of Rs 43.65 on BSE.

After ICICI Bank and SBI, the country central banking institution (RBI) has provided an extension of six months in order to attain the 70% provision coverage ratio.

PCR is lnked to the sum of money, which requires to be kept aside by banking institutions for NPAs.

As RBI has given extension to UCO Bank, the UCO Bank requires appending around Rs 400 crore to achieve the level of 70% PCR.

UCO Bank, an India-based commercial bank, works in four different sections including treasury operations, corporate/wholesale banking, retail banking and other banking operations.

As on March 31, this year, UCO Bank has around 2000 service divisions across the country.

UCO Bank also has functioning in Hong Kong as well as Canada.

As of March 31, 2010, UCO Bank took on forex biz in over 50 centres in the country.