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.
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