uco bank share price 2024 unfolds with a 19% surge, hitting an eight-year high. Insightful analyses, a 52-week peak, and future predictions provide a comprehensive overview
UCO Bank Share Price 2024
UCO Bank started the day at ₹49.76 and finished at ₹48.84. It had a good day with a high of ₹51.6 and a low of ₹48.82. The bank is currently valued at a whopping ₹60,592.81 crore in the market. In the past year, its shares reached a high of ₹51.6 and a low of ₹22.26.
UCO Bank Share Price 2024 19% Jump
UCO Bank Ltd. experienced a remarkable surge of 19%, reaching an over eight-year high on Monday. This surge was attributed to two substantial trades, collectively representing 0.02% of the bank’s equity.
The first notable trade involved 10.8 lakh shares, equivalent to 0.01% of the equity, followed by a second trade of 16.2 lakh shares, also representing 0.01% of the total equity.
In the past 12 months, UCO Bank’s shares have exhibited exceptional growth, rising by an impressive 115.73%. The day’s trading volume was notably high, standing at 14 times its 30-day average.
UCO Bank Share Price 2024 52-Week High and Future Plans
UCO Bank’s shares Raised, reaching a 52-week high of Rs 51.60 in Friday’s trading session. The stock showed an impressive gain of 5.65%, marking a remarkable 25.21% increase over five consecutive trading sessions. UCO Bank’s MD & CEO, Ashwani Kumar, shared some insights into the bank’s activities.
He highlighted the bank’s contribution of Rs 702 crore to the renewable sector. Responding to queries on dividends, Kumar mentioned the awaited approval from the Reserve Bank of India (RBI) and stated, “We’ll wait for the approval from the Reserve Bank, then only we’ll be able to comment on the dividend.”
UCO Bank Share Price 2024 Analysts
Technical analysts shared their insights, indicating potential support at Rs 44 and resistance at Rs 52. Shiju Koothupalakkal from Prabhudas Lilladher mentioned, “Support would be near the Rs 44.50 zone. Next potential upside targets will be Rs 52-55.50 levels.”
DRS Finvest founder Ravi Singh projected a near-term target of Rs 55 and advised keeping a stop-loss at Rs 44. AR Ramachandran from Tips2trades suggested caution, noting an overbought situation on daily charts, and recommended investors to book profits at current levels.
UCO Bank Share Price 2024 Today
As of February 5, 2024, the share price of UCO Bank is ₹59.20, reflecting an increase of ₹8.65, which is a significant 17.11% rise.
UCO Bank Share Price 2024 Target
As we step into 2024, UCO Bank, much like its counterparts, has seen a remarkable bull run in the Indian stock market during 2023. The positive momentum is anticipated to continue in the first quarter of 2024, albeit with some early months marked by consolidation. According to technical data, UCO Bank’s share prices are expected to range between ₹41.98 as the minimum target and ₹47.36 as the maximum target throughout the year.
| January: ₹41.98 | February: ₹42.75 | March: ₹41.98 | April: ₹41.59 | May: ₹41.73 | June: ₹42.32 | July: ₹44.25 | August: ₹44.25 | September: ₹44.26 | October: ₹47.37 | November: ₹47.37 | December: ₹47.36 |
UCO Bank Share Price 2024 Prediction
Looking ahead to 2025, there’s an optimistic outlook for UCO Bank’s share price. The forecast suggests that in January, we might witness a value of Rs. 50.52. The projections continue, indicating a potential target of Rs. 50.14 by December 2025, contingent on favorable macro and microeconomic factors and industry trends.
| January: ₹50.52 | February: ₹51.3 | March: ₹50.53 | April: ₹50.14 | May to August: Steady at ₹50.14 | September: ₹50.15 | October to December: Maintaining ₹50.14 |
UCO Bank Share Price 2024 Stake & Investor
The government’s shareholding in UCO Bank stood at 95.39% at the end of the third quarter of this fiscal, providing a backdrop to the bank’s current market dynamics. Analysts advised investors to consider booking profits at the current levels, emphasizing the bullish yet cautious outlook for UCO Bank’s stock price.
Conclusion:
UCO Bank shares showcased a robust performance in 2024, with a significant 19% jump and reaching an eight-year high. Notable trades, strategic plans, and analyst insights shaped the journey. The 52-week high, future targets, and 2025 predictions added to the narrative.
