UCO Bank Share, formerly known as United Commercial Bank, was established on 6 January 1943. In fact, Shri G.D. was responsible for creating Indian Bank. Birla’s vision which came into reality after the “Quit India” movement. The headquarters of the bank is in Kolkata.
If we look at the financials of the bank, there has been a continuous increase in revenue. If we look at the data of the last five years, the revenue growth of the bank has remained good. Along with this, profits have also increased. The net profit of the bank has increased to Rs 504 crore in the September quarter.
This is almost four times compared to the previous quarter. The improvement in the bank’s revenue and profits has increased the interest of mutual funds and foreign investors. MFs and FPIs have increased their investments. Due to this the stock has increased.
If you look at the UCO Bank share price targets by 2026, you can see that the first target is showing you Rs 52 along with good growth. After this you can think of another target to hold for Rs. 55.
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The rise in UCO Bank shares can be attributed to the strategic advantage of India’s efforts to raise the credibility of the rupee internationally. UCO Bank is the first Indian bank to receive approval from the Reserve Bank of India (RBI) to open special Rupee Vostro accounts for foreign banks.
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