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Union Bank Plunges 4%; BSE BANKEX Index Down 0.4%
Mon, 7 Oct 11:25

Union Bank Plunges 4%; BSE BANKEX Index Down 0.4%Image source: CreativaImages/www.istockphoto.com

Union Bank share price has plunged 4% and is presently trading at Rs 113.6.

Meanwhile, the BSE BANKEX index is at 58,162.8 (down 0.4%).

Among the top losers in the BSE BANKEX index today are Federal Bank (down 3.0%) and Bank of Baroda (down 2.1%).

AU SMALL FINANCE BANK (up 1.9%) and ICICI Bank (up 0.9%) are among the top gainers today.

Over the last one year, Union Bank has moved up from Rs 112.1 to Rs 113.6, registering a gain of Rs 1.5 (up 1.3%).

On the other hand, the BSE BANKEX index has moved up from 50,007.8 to 58,162.8, registering a gain of 16.3% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were ICICI Bank (up 33.0%), SBI (up 30.3%) and Federal Bank (up 24.8%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,440.6 (down 0.3%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 3.9%) and NTPC (down 2.7%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.

In the meantime, NSE Nifty is at 24,956.2 (down 0.2%). MUNDRA PORT & SEZ and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,440.6, registering a gain of 15,928.5 points (up 24.3%).

Union Bank Financial Update...

Union Bank net profit grew 11.1% YoY to Rs 36,010 million for the quarter ended June 2024, compared to a profit of Rs 32,404 million a year ago. Net sales rose 12.3% to Rs 265,269 million during the period as against Rs 236,132 million in April-June 2023.

For the year ended March 2024, Union Bank reported 62.1% increase in net profit to Rs 137,971 million compared to net profit of Rs 85,117 million during FY23. Revenue of the company grew 23.7% to Rs 1,003,756 million during FY24.

The current Price to earnings ratio of Union Bank, based on rolling 12 month earnings, stands at 6.2.

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