Shares of United Bank of India declined nearly 3 percent in the early trade on September 5 after the bank decided not to discuss amalgamation with Punjab National Bank (PNB) on September 6 board meeting.
The board of directors of the company will not be deliberating on the said amalgamation with PNB in the meeting to be held on September 6, 2019.
The board will discuss the matter on a later date, the intimation of which shall be given to the exchanges in due course, it added.
At 0931 hrs, United Bank of India was quoting at Rs 9.90, down Rs 0.26, or 2.56 percent on the BSE.
The share touched its 52-week high of Rs 13.25 and its 52-week low of Rs 9.05 on 1 January, 2019 and 8 October, 2018, respectively.
Currently, it is trading 25.51 percent below its 52-week high and 9.06 percent above its 52-week low.
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