Uco Bank has slapped a loan recall notice on Reid & Taylor after it failed to repay over Rs 100 crore loan. IOB has classified both Reid & Taylor and S Kumars accounts as NPAs.
After State-run UCO Bank named Reid & Taylor account as non-performing asset, another public sector bank - IOB - has classified loans to Reid & Taylor and S Kumars Nationwide as non-performing assets, reports CNBC-TV18.
Early last month, UCO Bank, in an advertisement in national dailies, posted photograph of Nitin Kasliwal, chairman and managing director of S Kumars Nationwide ( SKNL ), who is the guarantor of the loan taken by its arm Reid & Taylor, and called him a defaulter.
At 12:57 hours IST, S Kumars Nationwide was quoting at Rs 4.50, down 1.32 percent.
UCO Bank stock price
On July 02, 2015, at 15:22 hrs UCO Bank was quoting at Rs 53.30, down Rs 1.15, or 2.11 percent. The 52-week high of the share was Rs 114.85 and the 52-week low was Rs 52.60.
The company's trailing 12-month (TTM) EPS was at Rs 10.58 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 5.04. The latest book value of the company is Rs 111.00 per share. At current value, the price-to-book value of the company is 0.48.
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