Multibagger penny stock under Rs 30: This PSU bank reports an impressive 173 per cent surge in operating profit!

Shares of the company gained more than 140 per cent in the last one year.

UCO Bank has reported results for the first quarter ended June 30, 2023 (Q1FY24). On a consolidated basis, the bank has reported an 80.79 per cent rise in its net profit at Rs 223.48 crore for the quarter ended June 30, 2023, as compared to Rs 123.61 crore for the same quarter in the previous year. The operating profit of the bank saw a jump of 173.3 per cent. The total income of the bank increased by 54.27 per cent at Rs 5856.95 crore for Q1FY24 as compared to Rs 3796.59 crore for the corresponding quarter previous year.

UCO Bank, incorporated in 1943, is a Kolkata-based mid-sized public sector bank that operates through a network of 3,108 branches, with branch concentration in North and East India.

Shares of UCO Bank have given multibagger returns during the last one year. The company's shares jumped from Rs 11.55 on August 01, 2022, to Rs 28.75 on July 28, 2023, an increase of about 149 per cent in one year holding period.

On Friday, the stock opened at Rs 29.30, with a high and low of Rs 29.40 and Rs 28.65. The stock closed trading at Rs 28.78, down by 1.47 per cent.    

The stock has a 52-week high of Rs 38.15 and a 52-week low of Rs 11.10. The company has a market capitalisation of Rs 34,409.25 crore.  

Disclaimer: The article is for informational purposes only and not investment advice.