Union Bank of India Ltd (NSE: UNIONBANK)-Recently the quarter 3 results of this PSU bank have come and the broker company has also given advice to buy it.
Union Bank of India Limited Share Price +8.25 jump in the last 5 days, Union bank has announced results for the third quarter that ended December 31, 2023 (Q3FY24), after results share flying rockets.
Q3 results came on 20th January in which Union Bank made a huge profit, there has been an increase of 59.92% in profit in December 2023.
For the banking sector, the main income source is the interest generated from loans extended to individuals and corporations. In the latest fiscal year, Union Bank of India recorded a revenue of Rs. 80,743.34 billion, reflecting an impressive growth rate of 29.44% over the past three years.
Union Bank of India maintains a solid Capital Adequacy Ratio of 16.04%.
As of January 24th, Union Bank’s current share price stands at 142.80 INR, reflecting an increase of 2.85 INR or 2.04% for the day.
NSE: Union Bank Share Price Target share has increased by +25.65 in the last 1 month,+64.40
The top Brokerage company has a set Union Bank share price target at 391rs for a few future months.
Union Bank of India Ltd Q3 result summary
Union Bank of India has disclosed its quarterly results, revealing a robust 21.45% increase in revenue to Rs. 253,629.60 million for the December 2023 quarter, compared to Rs. 208,828.60 million in the corresponding period of the previous year. The quarterly profit for the period ending December 2023 stood at Rs. 35,899.10 million, marking a significant growth of 59.92% from Rs. 22,448.00 million.
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Union Bank Share Price History
In the recent history of Union Bank’s share prices, on January 24, 2024, the closing price was 142.85 INR, with an opening at 139.20 INR, reaching a high of 143.10 INR and a low of 135.05 INR. This marked a change of 2.07%, and the trading volume was 25,283,547 shares.
On January 23, 2024, the closing price was 139.95 INR, opening at 145.00 INR, hitting a high of 145.25 INR and a low of 135.45 INR, resulting in a -1.30% change, with a trading volume of 42,032,631 shares. Furthermore, on January 20, 2024, the closing price stood at 141.80 INR, opening at 136.90 INR, reaching a high of 145.40 INR and a low of 135.70 INR, representing a positive change of 4.34%, with a trading volume of 37,359,672 shares.
Going back to July 7, 2006, the share price was 91.00 INR, opening at 95.00 INR, reaching both the high and low at 95.00 INR and 90.25 INR respectively, resulting in a -1.09% change, with a trading volume of 419,127 shares. On July 6, 2006, the closing price was 92.00 INR, opening at 92.10 INR, reaching a high of 94.80 INR and a low of 90.50 INR, leading to a -0.97% change, with a trading volume of 347,322 shares.
Similarly, on July 5, 2006, the closing price was 92.90 INR, opening at 92.00 INR, hitting a high of 94.95 INR and a low of 90.00 INR, resulting in a positive change of 2.48%, with a trading volume of 511,029 shares. Lastly, on July 4, 2006, the closing price was 90.65 INR, opening at 90.40 INR, reaching a high of 91.95 INR and a low of 89.50 INR, leading to a positive change of 1.74%, with a trading volume of 244,105 shares.
About Union Bank Ltd
Union Bank of India, also known as Union Bank or UBI, is a Mumbai-based Indian public sector bank. The current CEO is A. Manimekhalai, who assumed the position on June 3, 2022. The bank was founded on November 11, 1919, in Mumbai, and it is headquartered in the same city. As of 2023, Union Bank of India has a workforce of 75,594 employees. Additionally, one of its subsidiaries is UBI Services Limited.
Union Bank Strenght
The Current and Savings Account (CASA) constitutes 35.26% of the total deposits. The company maintains a commendable Capital Adequacy Ratio of 16.04%. Over the last three years, the company has achieved a noteworthy profit growth of 69.97%. Additionally, there has been substantial income growth, with an impressive 29.44% increase over the same three-year period.
Union Bank Limitation
The bank exhibits a consistently low Return on Assets (ROA) track record, with an average ROA of 0.50% over the past three years. The year-on-year growth in Current and Savings Account (CASA) is -1.28%, indicating a notably low expansion. Furthermore, the bank faces a high level of Non-Performing Assets (NPA), with an average NPA of 3.33% over the last three years. Additionally, the bank has an elevated Cost-to-Income Ratio, standing at 46.27%.
Conclusion
This article serves as a comprehensive guide to the ₹142.80 Government PSU Bank Stocks Can 23% Return In 1 Month. The information and forecasts are derived from our analysis, research, company fundamentals, historical data, experiences, and various technical analyses. The article delves into the share’s prospects and growth potential in detail. Feel free to comment below if you have any further queries. We are more than happy to address all your questions. If you find this information helpful, consider sharing the article with as many people as possible.
Disclaimer:
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