UNION BANK Surges by 5%; BSE BANKEX Index Up 2.4%
October 10, 2018 11:48 AM

UNION BANK share price has zoomed 5% and is presently trading at Rs 69.

Meanwhile, the BSE BANKEX Index is at 28,121 (up 2.4%).

Among the top Gainers in the BSE BANKEX Index today is UNION BANK (up 5.1%).

Over the last one year, UNION BANK has moved down from Rs 131 to Rs 69, registering a loss of Rs 62 (down 47.2%).

On the other hand, the BSE BANKEX has moved up from 27,294 to 28,121, registering a gain of 827 points (up 2.9%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 15.3%), AXIS BANK (up 13.2%) and HDFC BANK (up 10.0%).

What About the Benchmark Indices?

The BSE Sensex is at 34,771 (up 1.2%).

The top gainers among the BSE Sensex stocks today are MARUTI SUZUKI (up 4.5%), AXIS BANK (up 3.5%) and VEDANTA LTD (up 3.4%). Other gainers include SBI (up 3.1%) and BAJAJ AUTO (up 2.9%). The most traded stocks in the BSE Sensex are YES BANK and TATA MOTORS.

In the meantime, NSE Nifty is at 10,456 (up 1.2%). BAJAJ FINANCE (up 8.6%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 31,847 to 34,771, registering a gain of 2,924 points (up 9.0%).

UNION BANK Financial Update...

UNION BANK net profit declined 110.4% YoY to Rs 1 billion for the quarter ended June 2018, compared to a loss of Rs 12 billion a year ago. Operating income rose 5.3% to Rs 87.0 billion during the period as against Rs 82.6 billion in April-June 2017.

For the year ended March 2018, UNION BANK reported 1010.2% decrease in net profit to Rs 52.1 billion compared to net profit of Rs 5.7 billion during FY17.

Revenue of the company grew 0.4% to Rs 330 billion during FY18.

The current Price to earnings ratio of UNION BANK, based on rolling 12 month earnings, stands at down 1.5x.