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Aug 29, 2012, 03.57 PM IST
Short UCO Bank, says Sudarshan Sukhani of s2analytics.com. It is now cracking below Rs 65 and today below Rs 63 levels. Once it went below Rs 65 the trend became very clearly on the downside.
Short UCO Bank , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, "On the short side most PSU banks are selling opportunities, so specifically we have UCO Bank which is now cracking below Rs 65 and today below Rs 63 levels. Once it went below Rs 65 the trend became very clearly on the downside. Today it is going at new lows. So it is a short selling candidate. It’s not the only PSU bank you can also look at Canara Bank, Vijaya Bank and PNB." The share touched its 52-week high Rs 95.00 and 52-week low Rs 44.80 on 17 Feb, 2012 and 02 Jan, 2012, respectively. Currently, it is trading -34.05% below its 52-week high and 39.84% above its 52-week low. Market capitalisation stands at Rs 4,164.42 crore. The company's trailing 12-month (TTM) EPS was at Rs 14.45 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 4.34. The latest book value of the company is Rs 94.72 per share. At current value, the price-to-book value of the company was 0.66. The dividend yield of the company was 4.79%.
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