UNION BANK Plunges by 10%; BSE BANKEX Index Down 1.3%

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UNION BANK Plunges by 10%; BSE BANKEX Index Down 1.3%
Mon, 13 May 03:32 PM

UNION BANK share price has plunged 10% and is presently trading at Rs 85.

Meanwhile, the BSE BANKEX Index is at 32,467 (down 1.3%).

Among the top losers in the BSE BANKEX Index today is UNION BANK (down 10.1%).

Over the last one year, UNION BANK has moved down from Rs 88 to Rs 85, registering a loss of Rs 3 (down 3.2%)..

The BSE BANKEX has moved up from 29,358 to 32,467, registering a gain of 3,109 points (up 10.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 33.6%), SBI (up 23.7%) and ICICI BANK (up 22.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 37,584 (down 1.1%). The top gainers among the BSE Sensex stocks today are HDFC (up 1.0%). The most traded stocks in the BSE Sensex are INFOSYS and HDFC.

In the meantime, NSE Nifty is at 11,300 (down 1.1%). TITAN (up 1.5%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,246 to 37,584, registering a gain of 2,338 points (up 5.1%).

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 4.1x.



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