UNION BANK Surges by 5%; BSE BANKEX Index Up 1.5%
March 5, 2020 11:54 AM

UNION BANK share price has zoomed 5% and is presently trading at Rs 38.

Meanwhile, the BSE BANKEX Index is at 33,474 (up 1.5%).

Among the top Gainers in the BSE BANKEX Index today are UNION BANK (up 5.1%) and YES BANK (up 26.3%).

SBI (down 0.4%) and BANK OF BARODA (down 0.5%) are among the top losers today.

Over the last one year, UNION BANK has moved down from Rs 81 to Rs 38, registering a loss of Rs 42 (down 52.6%).

On the other hand, the BSE BANKEX has moved up from 30,889 to 33,474, registering a gain of 2,585 points (up 8.2%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 40.8%), KOTAK MAHINDRA BANK (up 34.4%) and CITY UNION BANK (up 13.3%).

What About the Benchmark Indices?

The BSE Sensex is at 38,865 (up 1.2%).

The top gainers among the BSE Sensex stocks today are KOTAK MAHINDRA BANK (up 3.7%), HUL (up 3.3%) and HCL TECHNOLOGIES (up 3.3%). Other gainers include TCS (up 2.5%) and HERO MOTOCORP (up 1.9%). The most traded stocks in the BSE Sensex are HDFC BANK and ONGC.

In the meantime, NSE Nifty is at 11,382 (up 1.1%). YES BANK (up 25.6%) and KOTAK MAHINDRA BANK (up 3.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,443 to 38,865, registering a gain of 2,422 points (up 6.6%).

UNION BANK Financial Update...

UNION BANK net profit stood at Rs 6 billion for the quarter ended December 2019, compared to a profit of Rs 2 billion a year ago. Operating income rose 13.6% to Rs 96.3 billion during the period as against Rs 84.8 billion in October-December 2018.

For the year ended March 2019, UNION BANK reported 43.9% decrease in net profit to Rs 29.2 billion compared to net profit of Rs 52.1 billion during FY18.

Revenue of the company grew 4.1% to Rs 343 billion during FY19.

The current Price to earnings ratio of UNION BANK, based on rolling 12 month earnings, stands at down 1.8x.