United Bank of India spurts on entering into MoU with NCML

United Bank of India - (Amalgamated) | Bank - Public | BFSI | BSE: 533171 | NSE: UNITEDBNK

25 Mar 2013 Evaluate

United Bank of India is currently trading at Rs 56.20, up by 1.10 points or 2.00% from its previous closing of Rs 55.10 on the BSE.

The scrip opened at Rs 56.00 and has touched a high and low of Rs 56.45 and Rs 55.80 respectively. So far 1721 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 84.95 on 07-Jan-2013 and a 52 week low of Rs 49.75 on 31-Aug-2012.

Last one week high and low of the scrip stood at Rs 61.70 and Rs 52.95 respectively. The current market cap of the company is Rs.2090.86 crore.

The promoters holding in the company stood at 81.56% while Institutions and Non-Institutions held 7.36% and 11.08% respectively.

United Bank of India has entered into a Memorandum of Understanding (MOU) with National Collateral Management Services (NCML), a renowned company engaged in post-harvest management on March 20, 2013. This MOU is for tie up arrangement towards offering most trusted solution in agribusiness through the development of innovative value added services to the customers, particularly for the farming community across the country.

According to the terms of MOU, the bank will extend finance against warehouse receipts to the eligible farmers, who will be storing their agricultural produces in the warehouses of NCML.

United Bank of India has emerged as a strong and efficient banking organization over the years and plays an integral role in the socio-economic development of the Eastern and North-Eastern States of the country. The bank at present has a strong presence with its total 1678 branches and 800 ATMs spread across the country.

United Bank-Amalgama Share Price

8.02 0.00 (0.00%)

20-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
State Bank Of India	1034.65
PNB	107.70
Bank Of Baroda	279.85
Canara Bank	130.15
Union Bank Of India	174.80
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