UNION BANK Plunges by 6%; BSE BANKEX Index Up 0.5%

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UNION BANK Plunges by 6%; BSE BANKEX Index Up 0.5%
Thu, 26 Sep 09:20 AM

UNION BANK share price has plunged 6% and is presently trading at Rs 60.

Meanwhile, the BSE BANKEX Index is at 33,549 (up 0.5%).

Among the top losers in the BSE BANKEX Index today is UNION BANK (down 5.9%).

YES BANK (up 1.5%) and FEDERAL BANK (up 0.9%) are among the top gainers today.

Over the last one year, UNION BANK has moved down from Rs 70 to Rs 60, registering a loss of Rs 10 (down 14.5%)..

The BSE BANKEX has moved up from 28,413 to 33,549, registering a gain of 5,136 points (up 18.1%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 41.0%), KOTAK MAHINDRA BANK (up 35.4%) and FEDERAL BANK (up 29.1%).

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What About the Benchmark Indices?

The BSE Sensex is at 38,748 (up 0.4%). The top gainers among the BSE Sensex stocks today are ONGC (up 2.7%). The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and TATA STEEL.

In the meantime, NSE Nifty is at 11,470 (up 0.3%). ICICI BANK (up 1.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 36,652 to 38,748, registering a gain of 2,096 points (up 5.7%).

UNION BANK Financial Update...

UNION BANK net profit stood at Rs 2 billion for the quarter ended June 2019, compared to a profit of Rs 2 billion a year ago. Operating income rose 5.0% to Rs 89.0 billion during the period as against Rs 84.8 billion in April-June 2018.

For the year ended March 2019, UNION BANK reported 43.9% decrease in net profit to Rs 29.2 billion compared to net profit of Rs 52.1 billion during FY18.

Revenue of the company grew 4.1% to Rs 343 billion during FY19.

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

What else is happening in the markets today? Dig in...

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