United Bank of India is currently trading at Rs. 20.00, up by 0.20 points or 1.01% from its previous closing of Rs. 19.80 on the BSE.
The scrip opened at Rs. 20.20 and has touched a high and low of Rs. 20.20 and Rs. 19.60 respectively. So far 40,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 29.25 on 07-Feb-2017 and a 52 week low of Rs. 18.15 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs. 20.60 and Rs. 19.25 respectively. The current market cap of the company is Rs. 2,788.00 crore.
The promoters holding in the company stood at 85.23%, while Institutions and Non-Institutions held 9.61% and 5.17% respectively.
United Bank of India has received its board’s approval to raise up to Rs 500 crore via BASEL III Bonds. The bank will issue and allot Unsecured, BASEL III Compliant, Listed, Tier-2 Bonds in the form of promissory note of the Face Value of Rs 10 lakh each, with or without Green Shoe Option on private placement basis. The bank’s board gave approval for the same at its meeting held on July 12, 2017.
United Bank of India is one of the 14 major banks, which were nationalized on July 19, 1969. After nationalization, the Bank expanded its branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization.
