Union Bank of India advances in volatile trade after declaring Q1 result

Union Bank of India rose 3.54% to Rs 159.50 at 12:44 IST on BSE after net profit fell 21.88% to Rs 518.78 crore on 5.79% growth in total income to Rs 9043.17 crore in Q1 June 2015 over Q1 June 2014.

The Q1 result was announced during market hours today, 28 July 2015.

Meanwhile, the S&P BSE Sensex was up 15.55 points or 0.06% at 27,576.93

On BSE, so far 12.56 lakh shares were traded in the counter as against average daily volume of 5.25 lakh shares in the past one quarter.

The stock saw high intraday volatility. The stock rose as much as 4.31% at the day's high of Rs 160.80 so far during the day. The stock fell as much as 1.81% at the day's low of Rs 151.35 so far during the day. The stock had hit a 52-week high of Rs 253.60 on 23 January 2015. The stock had hit a 52-week low of Rs 129.80 on 8 May 2015.

The stock had outperformed the market over the past one month till 27 July 2015, rising 0.72% compared with Sensex's 0.9% decline. The scrip also outperformed the market in past one quarter, gaining 7.76% as against Sensex's 1.41% gain.

The mid-cap PSU bank has equity capital of Rs 635.78 crore. Face value per share is Rs 10.

Union Bank of India's ratio of net non-performing assets (NPAs) to net advances stood at 3.08% as on 30 June 2015 compared with 2.71% as on 31 March 2015 and 2.46% as on 30 June 2014. The ratio of gross NPAs to gross advances stood at 5.53% as on 30 June 2015 as against 4.96% as on 31 March 2015 and 4.27% as on 30 June 2014.

Union Bank of India's Capital Adequacy Ratio (CAR) as per Basel III stood at 10.14% as on 30 June 2015 as against 10.22% as on 31 March 2015 and 10.41% as on 30 June 2014.

The bank's provision coverage ratio stood at 58.05% as on 30 June 2015 as against 59.23% as on 31 March 2015 and 58.92% as on 30 June 2014.

The Government of India (GoI) held 60.47% in Union Bank of India (as per the shareholding pattern as on 30 June 2015).

Union Bank of India is one of largest state-owned banks in India. The bank's business segments include Treasury Operations, Retail Banking Operations, Corporate Wholesale Banking and Other Banking Operations. They offer various types of deposits such as savings bank deposits, current deposits, current and savings account (CASA) deposits, and term deposits.

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