United Bank of India has spurted up 5% at Rs.44 and this is after hitting an intra day high at Rs.45. Volumes are up almost 3 times.

This Bank was the first to react to RBI’s 25 bps rate cut. It announced that effective 1^st Feb, its base rate would be 25 bps less at 10%. Naturally, the market is enthused and hoping that other banks will also follow suit