Union Bank of India gained 9.32% to Rs 76.25 at 14:46 IST on BSE after the bank reported net profit of Rs 139.03 crore in Q2 September 2018 as compared with net loss of Rs 1530.72 crore in Q2 September 2017.
The result was announced after market hours yesterday, 29 October 2018.Meanwhile, the S&P BSE Sensex was down 202.93 points or 0.6% at 33,864.47.
On the BSE, 33.25 lakh shares were traded on the counter so far as against the average daily volumes of 7.02 lakh shares in the past two weeks. The stock had hit a high of Rs 79.30 and a low of Rs 69.10 so far during the day.
Union Bank of India's total income fell 0.02% to Rs 9438.26 crore in Q2 September 2018 over Q2 September 2017. Net Interest Income increased by 7.5% to Rs 2494 crore.
Global business grew by 3.1% to Rs 717656 crore as on 30 September 2018 from Rs 695978 crore as on 30 September 2017. Domestic business grew by 6.5% to Rs 698892 crore as on 30 September 2018 from Rs 656046 crore as on 30 September 2017.
Gross NPA stood at 15.74% as on 30 September 2018 as against 16% as on 30 June 2018. Net NPA ratio stood at 8.42% as on 30 September 2018 as against 8.7% as on 30 June 2018. Provision Coverage Ratio stood at 57.66% as on 30 September 2018 as against 56.49% as on 30 June 2018.
Capital Adequacy ratio of the bank under Basel III is 11.55% as on 30 September 2018 as against 11.45% as on 30 June 2018 compared to minimum regulatory requirement of 10.875%.
The Government of India held 67.425% stake in Union Bank of India as per the shareholding pattern as on 30 September 2018. The bank has 4299 branches as of 30 September 2018.
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