Union Bank of India gains as board to consider fund raising

Union Bank of India rose 2.01% to Rs 150 at 12:15 IST on BSE after the bank scheduled a board meeting on 26 October 2016 to consider raising of capital funds through various means.

The announcement was made after market hours on Friday, 21 October 2016.

Meanwhile, the S&P BSE Sensex was up 68.40 points or 0.24% at 28,145.58

On BSE, so far 2.16 lakh shares were traded in the counter as against average daily volume of 6.20 lakh shares in the past one quarter. The stock hit a high of Rs 150.75 and a low of Rs 147.25 so far during the day. The stock had hit a 52-week high of Rs 173.90 on 1 December 2015. The stock had hit a 52-week low of Rs 104.05 on 29 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 0.89% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.25% as against Sensex's 0.99% rise.

 

The large-cap bank has equity capital of Rs 687.44 crore. Face value per share is Rs 10.

Union Bank of India's net profit fell 67.9% to Rs 166.32 crore on 1.4% decline in total income to Rs 8916.51 crore in Q1 June 2016 over Q1 June 2015.

Union Bank of India is one of largest state-owned banks in India. The Government of India (GoI) held 63.44% in Union Bank of India (as per the shareholding pattern as on 30 September 2016).

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