UCO Bank Soars 20%, Hits 52-Wk High: Top Nifty PSU Bank Stock, Up 105% in 1 Year

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UCO Bank Soars 20%, Hits 52-Wk High: Top Nifty PSU Bank Stock, Up 105% in 1 Year

By Malvika Gurung

Investing.com -- Shares of the public-sector lender UCO Bank (NS: UCBK ) skyrocketed 20%, hitting an upper circuit and a new 52-week high at Rs 29.1 apiece on Tuesday. 

The state-owned lender has been on an upswing, rallying over 105% in the past year. Soaring 20% on Tuesday, the banking stock has outperformed the headline market indices Nifty50 and Sensex and is the best-performing stock or top gainer on the sectoral index Nifty PSU Bank .

The Kolkata-based lender has reportedly witnessed multiple block deals on Tuesday, pushing the stock higher in the day.

The index Nifty PSU Bank has trumped the market sentiment, zooming 4% at the time of writing, significantly shadowing its peers, led by UCO Bank, Central Bank of India (NS: CBI ) and Indian Overseas Bank (NS: IOBK ). 

All the constituent stocks listed on the sectoral index were trading in green.

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