The Hindu Business Line : Expansion plans pep up UTI Bank

The UTI Bank stock is being closely tracked for what market observers say are reasons rooted in developments concerning the sector as well as those that pertain to the bank's own growth plans.

Banking stocks generally have been in the limelight, thanks to the constructive role some of these have been playing lately in investors' portfolios.

UTI Bank itself has charted an expansion programme that analysts have noted.

Recently, it raised $46 million in hybrid Tier-I bonds in the international market.

The Re 1-face value stock on Monday closed 3 per cent higher at Rs 472.45 on the NSE. Over 3.3 lakh shares made up the day's traded volumes.

During the past 52 weeks, the stock has moved from a shade over Rs 200 to more than Rs 500.

Nilanjan Dey

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