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Union Bank Plunges 6%; BSE BANKEX Index Down 3.2%
Mon, 5 Aug 11:29

Union Bank Plunges 6%; BSE BANKEX Index Down 3.2%Image source: bluebay2014/www.istockphoto.com

Union Bank share price has plunged 6% and is presently trading at Rs 125.3.

Meanwhile, the BSE BANKEX index is at 56,613.8 (down 3.2%).

Among the top losers in the BSE BANKEX index today are SBI (down 4.7%) and Bank of Baroda (down 4.6%).

Over the last one year, Union Bank has moved up from Rs 89.7 to Rs 125.3, registering a gain of Rs 35.6 (up 39.7%).

On the other hand, the BSE BANKEX index has moved up from 51,331.3 to 56,613.8, registering a gain of 10.3% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 41.3%), SBI (up 32.1%) and ICICI Bank (up 17.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,390.2 (down 3.2%).

The top losers among the BSE Sensex today are Tata Motors (down 6.8%) and Tata Steel (down 5.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,390.2, registering a gain of 11,930.9 points (up 18.0%).

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 6.8.

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