UCO Bank shares are one of those stocks that have doubled shareholders money in last six months. This state-owned banking stock has been in base building mode after climbing to its 52-week high of ₹ 38. 15 apiece on NSE in mid December 2022. After ushering in 2023, UCO Bank share price has shed more than 15 per cent in YTD time. However, despite sliding from ₹ 38. 15 to ₹ 26. 15 in 2023, this PSU bank stock has delivered 120 per cent return to its shareholders in last six months. According to stock market experts, UCO Bank shares skyrocketed on privatisation buzz and market was buzz that this would be the first national bank that will be privatised. However, nothing concrete announcement has come from the government's side. They said that the rise in UCO bank share price is completely speculative but its NIMs are improving due to the high interest rate regime and hence one can buy the stock again at around ₹ 21 apiece levels for long term target of ₹ 38 to ₹ 40 apiece levels maintaining buy on dips strategy on every big fall. TRENDING STORIES See All Premium Sunil Chhetri, a huge Messi fan, didn’t vote for Leo as . . . Premium Netflix streaming down for thousands of users - Downdet . . . Premium Bagrrys appoints Jayant Kapre as CEO Premium Nagaland: BJP state chief Temjen Imna Along leading, af . . . Speaking on UCO Bank share price outlook, Sumeet Bagadia, Executive Director at Choice Broking said, "UCO Bank shares have immediate support placed at ₹ 23 apiece levels. Those who have this sate-owned bank share in their portfolio should maintain strict stop loss at ₹ 23 levels as the stock may go down to ₹ 20 apiece levels on breaching this immediate support of ₹ 23 per share. " Sumeet Bagadia of Choice Broking said that UCO Bank shares can be added only when it sustains above ₹ 29. If the stock gives closing above ₹ 29 levels, then one can buy this stock for short term target of ₹ 33 per share maintaining stop loss at ₹ 26. 50 levels. On why UCO Bank share skyrocketed in last six months, Ravi Singha, CEO at GCL Broking said, "Market is full of buzz about UCO Bank getting privatised and going to become first nationalised bank to become a private bank. However, there is nothing any official announcement from the government in this regard. So, the stock is surging on speculations only. But, fundamentals of the stock is strong as well. Its NIMs are improving quarter after quarter due to high interest rate regime and the margin improvement is expected to continue further as central banks across world are expected to remain hawkish in near term. " However, Ravi Singhal of GCL Broking said that one should maintain 'buy on dips' strategy in regard to UCO Bank shares and fresh entry can be done around ₹ 21 if the stock dips further. "If the UCO Bank share price dips around ₹ 21 apiece levels, then one should buy UCO Bank shares at the levels for long term target of ₹ 38 to ₹ 40 per share levels. " MINT PREMIUM See All Premium Why Donald Trump is popular in Africa Premium Are you ready for India's lithium stocks gold rush? Premium Widen out consumption to avert an income trap Premium Forget chatbots, this is how US companies are using AI Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions. ABOUT THE AUTHOR Asit Manohar Chief Content Producer at Live Mint Digital Team Read more from this author Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach. Take the test Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. More Less Topics UCO Bank OPEN IN APP.