UCO Bank stock dips 6% as CBI books ex-CMD

Business Standard - - THE SMART INVESTOR -

UCO Bank shares fell over 6 per cent on Mon­day af­ter the Cen­tral Bureau of In­ves­ti­ga­tion (CBI) booked its for­mer chair­man and man­ag­ing di­rec­tor Arun Kaul and oth­ers al­legedly for a ~6.21-bil­lion loan fraud. The bank's mar­ket cap­i­tal­i­sa­tion de­clined ~12.57 bil­lion to ~39.02 bil­lion. Dur­ing the day, the stock plunged to a 52-week low of ~19.15. The stock fi­nally ended at ~20.90, down 6.49 per cent. On the NSE, it set­tled at ~20.85, down 6.29 per cent from its pre­vi­ous close.

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