UNION BANK Surges by 5%; BSE BANKEX Index Up 3.0%

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UNION BANK Surges by 5%; BSE BANKEX Index Up 3.0%
Mon, 20 May 09:31 AM

UNION BANK share price has zoomed 5% and is presently trading at Rs 75.

Meanwhile, the BSE BANKEX Index is at 33,962 (up 3.0%).

Among the top Gainers in the BSE BANKEX Index today are UNION BANK (up 5.1%) and SBI (up 5.0%).

Over the last one year, UNION BANK has moved down from Rs 85 to Rs 75, registering a loss of Rs 10 (down 13.0%).

On the other hand, the BSE BANKEX has moved up from 29,171 to 33,962, registering a gain of 4,791 points (up 16.1%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 42.3%), ICICI BANK (up 37.8%) and SBI (up 37.7%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,893 (up 2.0%).

The top gainers among the BSE Sensex stocks today are SBI (up 5.0%), ICICI BANK (up 4.5%) and L&T (up 4.3%). Other gainers include YES BANK (up 4.1%) and MARUTI SUZUKI (up 4.0%). The most traded stocks in the BSE Sensex are RELIANCE IND. and YES BANK.

In the meantime, NSE Nifty is at 11,694 (up 1.8%). SBI (up 4.4%) and L&T (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,149 to 38,893, registering a gain of 3,744 points (up 10.1%).

UNION BANK Financial Update...

UNION BANK net profit down at Rs 34 billion for the quarter ended March 2019, compared to a loss of Rs 2 billion a year ago. Operating income declined 1.5% to Rs 83.5 billion during the period as against Rs 84.8 billion in January-March 2018.

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 2.9x.



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