Shares of United Bank of India were locked in 20 percent upper circuit at Rs 8.90 on October 30 after the lender reported a solid set of earnings during the July-September period.
At 1509 hours IST, there were pending buy orders of 624,570 shares, with no sellers available on the BSE.
The bank reported a profit of Rs 124 crore during the July-September quarter, supported by lower provisions and healthy growth in the net interest income. Asset quality also improved sequentially.
Net interest income grew by 74.6 percent year-on-year to Rs 773 crore in quarter ended September 2019.
The state lender had reported a loss of Rs 883.2 crore in the same period last year.
The bank's net interest income grew by 74.6 percent year-on-year to Rs 773 crore. Gross non-performing assets (NPAs) as a percentage of gross advances declined 38bps sequentially to 15.51 percent and net NPA as a percentage of net advances dropped 31bps QoQ to 7.88 percent in Q2FY20.
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