New Delhi, March 25 -- Shares of UCO Bank, Central Bank of India, and Punjab & Sind Bank are in the spotlight on Tuesday following their announcements to raise capital through Qualified Institutional Placement (QIP).

Punjab & Sind Bank share price jumped 13.25% to Rs.50.49, while UCO Bank shares declined by 2.43% to Rs.37.31. Central Bank of India shares fell by 2.66% to Rs.45.60 on the BSE.

The boards of directors of these three public sector banks (PSBs) have approved the fundraising through the issuance of shares to institutional investors. According to reports, the government has sanctioned a Rs.10,000 crore capital-raising initiative via an offer for sale (OFS) for five PSU banks to ensure compliance with minimum public shareholdin...