Technical analyst Anu Jain has maintained 'buy' rating on UCO Bank stock.

The analyst said that the investors can buy the stock above Rs 119 to attain an intraday target of Rs 128.

The shares of the company, on April 05, closed at Rs 117.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 152.35 and a low of Rs 57 on BSE.

Eyeing to swell its attendance in abroad markets, state owned UCO Bank has decided to launch more divisions in the South East Asian region.

Mr. Arun Kaul, UCO Bank Chairman and Managing Director stated, "Currently, we are looking at expansion overseas... There are opportunities in South East Asia... Mozambique, Bangladesh, Nepal. Wherever we can open a branch with less capital (in this region), we will open."

Mr. Arun stated that the Kolkata-headquartered banking institution was yet to approach the central bank (RBI) for intensifying its abroad operations.

At present, the bank has four divisions in Singapore as well as Malaysia and a representative office in Beijing, China.

In addition to the abroad expansion, UCO Bank has also decided to augment its presence in India by 2013.

"We are present in 2,177 locations and have 600 ATMs. We want to have 3,000 branches and 3,000 ATMs in the country by March, 2013," Mr. Kaul added.

While discussing about other future proposals, Mr. Kaul stated that UCO Bank would concentrate on escalating the contribution from its CASA ratio (Current Account Savings Account) to 35% as against the existing 25%.