Value For Money

BSE : 532505
CMP : 49.65
Volume: 3403312

In the last fortnight, the banking index has been amongst the top gainers. As per a fund manager, the Indian banking sector is expected to outperform the general indices owing to the healthy growth shown by the banks over the last one year period when many banks in the US were filing for bankruptcy. Many of the banking PSU stocks are still trading below their book value and are therefore a good ‘value’ buy at the current level. And UCO Bank is amongst these PSU banks that are currently offering good scope of surging in terms of its market price, considering its growth and valuations. The counter is currently trading at a P/E of 4.89 times and 0.98 times. The counter has recently witnessed considerable addition of open interest in the futures and options space. Considering such build-up, a derivative strategist has given a buy call on the counter with a medium-term target of Rs 60. Thus investors with medium to long-term perspective can invest in this counter.