UCO Bank said it had received Rs 3,074 crore through preferential allotment to Government of India.
Bank of Maharashtra shares rallied as much as 5.5 percent, UCO Bank 15.5 percent and Central Bank of India gained 2 percent on Tuesday after receiving capital from government.
PSU Bank index itself also gained nearly half a percent, driven by Indian Bank (up 2.32 percent), Bank of Baroda (2.2 percent), Canara Bank (1.56 percent), OBC (1.15 percent) and PNB (1 percent).
Bank of Maharashtra and Central Bank of India on Monday said they had received the equity capital of Rs 4,498 crore and Rs 1,678 crore respectively on December 31, 2018 and same will be kept in Share Application Money A/c till all allotment formalities are completed.
Banks will take all necessary approvals/ permissions from shareholders/ regulatory authorities for preferential allotment of equity shares of bank to Government of India (GoI) in due course of time, they added.
On same day, UCO Bank said it had received Rs 3,074 crore through preferential allotment to Government of India.
At 11:35 hours IST, UCO Bank scrip was quoting at Rs 22.45, up 10.86 percent, Bank of Maharashtra was up 3.43 percent at Rs 15.40 and Central Bank of India up 1.36 percent at Rs 37.20 on the BSE.
