United Bank of India, a state-owned lender, announced that the bank has reduced its Base Rate from 10% to 9.90% w.e.f. Jun. 19, 2015.
The stock had underperformed the market over the past one month till Jun. 09, 2015, falling 19.74% compared with the Sensex's 2.30% decline. It underperformed the market in past one quarter, declining 14.14% as against 8.19% fall in the Sensex.
Shares of the bank gained Rs 0.4, or 1.79%, to trade at Rs 22.70. The total volume of shares traded was 15,889 at the BSE (9.33 a.m., Wednesday).