Union Bank Gains 6%; BSE BANKEX Index Up 1.2%
Tue, 3 Dec 15:26
Image source: phive2015/www.istockphoto.comUnion Bank share price has zoomed 6% and is presently trading at Rs 126.4.
Meanwhile, the BSE BANKEX index is at 59,985.0 (up 1.2%).
Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 3.4%) and AU SMALL FINANCE BANK (up 2.6%).
Kotak Bank (down 0.3%) is among the top losers today.
Over the last one year, Union Bank has moved up from Rs 110.2 to Rs 126.4, registering a gain of Rs 16.2 (up 14.7%).
On the other hand, the BSE BANKEX index has moved up from 50,321.1 to 59,985.0, registering a gain of 19.2% during the last 12 months.
The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 50.2%), Federal Bank (up 39.8%) and ICICI Bank (up 39.3%).
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What About the Benchmark Indices?
The BSE Sensex is at 80,853.2 (up 0.8%).
The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 6.1%) and NTPC (up 2.6%). The most traded stocks in the BSE Sensex are Power Grid Corp. and Tata Steel.
In the meantime, NSE Nifty is at 24,442.7 (up 0.7%). MUNDRA PORT & SEZ and NTPC are among the top gainers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 66,901.9 to 80,853.2, registering a gain of 13,951.3 points (up 20.9%).
Union Bank Financial Update...
Union Bank net profit grew 33.1% YoY to Rs 47,218 million for the quarter ended September 2024, compared to a profit of Rs 35,483 million a year ago. Net sales rose 8.7% to Rs 268,866 million during the period as against Rs 247,316 million in July-September 2023.
For the year ended March 2024, Union Bank reported 62.1% increase in net profit to Rs 137,971 million compared to net profit of Rs 85,117 million during FY23. Revenue of the company grew 23.7% to Rs 1,003,756 million during FY24.
The current Price to earnings ratio of Union Bank, based on rolling 12 month earnings, stands at 6.3.
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