UNION BANK Surges by 5%; BSE BANKEX Index Down 0.1%

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UNION BANK Surges by 5%; BSE BANKEX Index Down 0.1%
Tue, 4 Jun 10:42 AM

UNION BANK share price has zoomed 5% and is presently trading at Rs 81.

Meanwhile, the BSE BANKEX Index is at 35,644 (down 0.1%).

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

HDFC BANK (down 0.1%) and KOTAK MAHINDRA BANK (down 0.2%) are among the top losers today.

Over the last one year, UNION BANK has moved down from Rs 88 to Rs 81, registering a loss of Rs 7 (down 8.3%).

On the other hand, the BSE BANKEX has moved up from 29,358 to 35,644, registering a gain of 6,286 points (up 20.9%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 51.2%), ICICI BANK (up 46.8%) and SBI (up 35.6%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 40,312 (down 0.3%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 2.5%), NTPC (up 1.9%) and POWER GRID (up 1.2%). Other gainers include ITC (up 0.9%) and VEDANTA LTD (up 0.9%). The most traded stocks in the BSE Sensex are YES BANK and SBI.

In the meantime, NSE Nifty is at 12,095 (down 0.3%). YES BANK (up 2.4%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,012 to 40,312, registering a gain of 5,300 points (up 14.7%).

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 3.2x.



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