UNITED BANK OF INDIA Surges by 6%; BSE BANKEX Index Up 0.3%

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UNITED BANK OF INDIA Surges by 6%; BSE BANKEX Index Up 0.3%
Fri, 5 Jul 09:20 AM

UNITED BANK OF INDIA share price has zoomed 6% and is presently trading at Rs 11.

Meanwhile, the BSE BANKEX Index is at 35,382 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today is UNITED BANK OF INDIA (up 5.8%).

FEDERAL BANK (down 0.8%) and YES BANK (down 1.0%) are among the top losers today.

Over the last one year, UNITED BANK OF INDIA has moved down from Rs 11 to Rs 11, registering a loss of Rs 0 (down 3.7%).

On the other hand, the BSE BANKEX has moved up from 29,326 to 35,382, registering a gain of 6,056 points (up 20.7%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 59.6%), AXIS BANK (up 57.9%) and SBI (up 43.4%).

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What About the Benchmark Indices?

The BSE Sensex is at 39,990 (up 0.1%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS DVR (up 1.5%), COAL INDIA (up 0.9%) and L&T (up 0.8%). Other gainers include HERO MOTOCORP (up 0.7%) and HCL TECHNOLOGIES (up 0.6%). The most traded stocks in the BSE Sensex are HERO MOTOCORP and POWER GRID.

In the meantime, NSE Nifty is at 11,982 (up 0.2%). INDIABULLS HOU. FIN. (up 1.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,645 to 39,990, registering a gain of 4,345 points (up 12.1%).

UNITED BANK OF INDIA Financial Update...

UNITED BANK OF INDIA net profit declined 108.4% YoY to Rs 952 million for the quarter ended March 2019, compared to a loss of Rs 11 billion a year ago. Operating income rose 7.0% to Rs 22.1 billion during the period as against Rs 20.7 billion in January-March 2018.

For the year ended March 2019, UNITED BANK OF INDIA reported 59.2% increase in net profit to Rs 23.2 billion compared to net profit of Rs 14.5 billion during FY18.

Revenue of the company grew 2.6% to Rs 86 billion during FY19.

The current Price to earnings ratio of UNITED BANK OF INDIA, based on rolling 12 month earnings, stands at down 3.5x.



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