Union Bank surges over 6% on strong Q2 profits
02nd November 2012 01:18 PM
Union Bank of India, one of the largest public sector banks in India, surged on Friday after it has reported a surge of 57.22% in net profit of Rs 5.55 billion for the quarter ended Sept. 30, 2012 as compared with Rs 3.53 billion for the quarter ended Sept. 30, 2011. However, the profitwas lower compared to analysts' expectation of Rs 6.15 billion.
Total income gone up 18.62% to Rs 66.56 billion for the quarter ended Sept 30, 2012 from Rs 56.11 billion in the year ago period.
Net NPAs was at Rs 35.59 billion, as compared to Rs 29.59 million as on corresponding quarter last year, representing an increase of 20.29%. Meanwhile in percentage term, net NPA was at 2.06% as on the quarter ended Sept. 30, 2012, as compared to 2.04% in the year ago period.
Shares ofthebankare trading at Rs 219.50, up Rs 13.05, or 6.32% at the Bombay Stock Exchange (BSE) on Friday at 12:38 p.m.The scrip has touched an intra-day high of Rs 220.80 and low of Rs 200.50. The total volume of shares traded at the BSE is 1,424,013.In the earlier session, the shares climbed 5.63%, or Rs 11, at Rs 206.45. Currently, the stock is trading down 19.85% from its 52-week high of Rs 273.85 and above 46.24% over the 52-week low of Rs 150.10.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 205.95 0.50 0.24 1 Month 205.10 1.35 0.66 3 Months 171.15 35.30 20.63 6 Months 216.95 (10.50) (4.84) 1 Year 229.40 (22.95) (10.00) Note: Based on previous day closing price.
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