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UCO Bank is a state owned bank based in Kolkata.
From Valuation point of view UCO bank is selling cheap compared to other bank stocks considering its net profit and book value.
UCO Bank has reported a 34 per cent growth in its net
profit at Rs 178. 85 crore in the first quarter of FY10, as against Rs
133.44 crore in the corresponding period a year ago. The growth in
profit was driven by about a 55 per cent rise in fee-based income. The
bank’s fee-based income was at Rs 252 crore in the June 2009 quarter as
against Rs 162 crore in the year-ago period.
UCO is selling cheap due to low profit margin and think interest spread. But recently managed is taking action to increase profit margin . They may also enter into insurance business.
If you are already holding this stock I would recommend hold this stock 6 months and see how it plays out. I will not recommend getting new money into this stock . There are better bank stocks available out there.