UNION BANK Plunges by 5%; BSE BANKEX Index Down 1.7%

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UNION BANK Plunges by 5%; BSE BANKEX Index Down 1.7%
Tue, 30 Apr 10:28 AM

UNION BANK share price has plunged 5% and is presently trading at Rs 88.

Meanwhile, the BSE BANKEX Index is at 33,651 (down 1.7%).

Among the top losers in the BSE BANKEX Index today are UNION BANK (down 5.1%) and INDUSIND BANK (down 5.7%).

HDFC BANK (up 1.0%) and KOTAK MAHINDRA BANK (up 0.5%) are among the top gainers today.

Over the last one year, UNION BANK has moved down from Rs 91 to Rs 88, registering a loss of Rs 3 (down 3.1%)..

The BSE BANKEX has moved up from 27,970 to 33,651, registering a gain of 5,681 points (up 20.3%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 54.1%), ICICI BANK (up 45.3%) and SBI (up 31.4%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 39,069 (down 0.7%). The top gainers among the BSE Sensex stocks today are ASIAN PAINTS (up 1.3%). The most traded stocks in the BSE Sensex are ONGC and AXIS BANK.

In the meantime, NSE Nifty is at 11,749 (down 0.7%). HCL TECHNOLOGIES (up 1.5%) and ZEE ENTERTAINMENT (up 1.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,714 to 39,069, registering a gain of 4,355 points (up 11.7%).

UNION BANK Financial Update...

UNION BANK net profit declined 112.3% YoY to Rs 2 billion for the quarter ended December 2018, compared to a loss of Rs 12 billion a year ago. Operating income rose 2.6% to Rs 84.8 billion during the period as against Rs 82.6 billion in October-December 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 4.5x.



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