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United Bank of India surges on getting nod to raise up to Rs 1000 crore

17 Feb 2014 Evaluate

United Bank of India is currently trading at Rs. 24.55, up by 0.05 points or 0.20 % from its previous closing of Rs. 24.50 on the BSE.

The scrip opened at Rs. 25.00 and has touched a high and low of Rs. 25.00 and Rs. 24.50 respectively. So far 59160 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.25 on 20-Feb-2013 and a 52 week low of Rs. 24.40 on 14-Feb-2014.

Last one week high and low of the scrip stood at Rs. 28.00 and Rs. 24.40 respectively. The current market cap of the company is Rs. 1359.13 crore.

The promoters holding in the company stood at 88.00 % while Institutions and Non-Institutions held 5.54 % and 6.46 % respectively.

United Bank of India’s Board of directors has approved by circulation for raising Tier-I capital up to Rs 1000 crore. The funds will be raised by Issuance of Unsecured Perpetual Basel- III compliant Additional Tier 1 Bonds in the form of Promissory Notes of Rs 10.00 lakh each on private placement basis to the eligible institutions for inclusion in Tier-1 Capital in one or more tranches.

Last year in December, the bank had opened 50 branches in Assam. The branches were inaugurated by Chief Minister Tarun Gogoi. With this, the bank now has 244 branches in the Assam.

 

United Bank-Amalgama Share Price

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Peers
Company Name CMP
SBI 1063.20
PNB 110.75
Canara Bank 138.90
Bank Of Baroda 275.85
Union Bank Of India 184.70
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