Hold UCO Bank With Target Of Rs 132
Technical analyst Sanjeev Bhasin has maintained 'hold' rating on UCO Bank Limited stock to attain a target of Rs 130-132.
According to analyst, the stock can achieve the said target within six months.
The stock of the company, on April 27, closed at Rs 116.90 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 152.35 and a low of Rs 66.05 on BSE.
UCO Bank stated that it has joined hands with Religare Securities in order to provide online trading to its clients as part of enlarging the product bouquet and has composed go-getting growth plans.
UCO Bank executive director Ajai Rai stated, "We are looking forward for greater brand recall of the bank and adding new facilities like mobile banking and internet trading facility to customers."
Rai stated that the banking institution planned to launch 800 novel divisions and 2,400 ATMs across India by the next two years for stronger attendance.
UCO Bank would exceed the Rs 2.45 lakh crore biz objective target for this year, with 20% increase in credit and 18% in deposit.
The banking institution has around 2,200 divisions and 600 ATMs across India as of now.