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 May 22, 2015, UCO Bank closed at Rs 59.20, down Rs 0.4, or 0.67 percent. The 52-week high of the share was Rs 115.75 and the 52-week low was Rs 55.85.
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 5.6. The latest book value of the company is Rs 108.89 per share. At current value, the price-to-book value of the company is 0.54.
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