United Bank of India, a state-owned lender, gained on Tuesday after the bank decided to reduce the base rate from 10.50% to 10.25% from Mar. 24, 2014.

Shares of the company settled at Rs 27.85, up Rs 0.85, or 3.15% at the Bombay Stock Exchange (BSE) on Tuesday.

The scrip has touched an intra-day high of Rs 28.50 and low of Rs 27.60. The total volume of shares traded at the BSE is 125,307.

In the earlier session, the shares declined 0.37%, or Rs 0.1, at Rs 27. Currently, the stock is trading down 56.38% from its 52-week high of Rs 63.85 and above 19.02% over the 52-week low of Rs 23.40.