Union Bank of India rose 3.26% to Rs 181.90 at 13:05 IST on BSE after the bank said that CRISIL Ratings has assigned CRISIL AA rating to the bank's proposed Basel III compliant Tier 1 perpetual bonds of Rs 2000 crore with a negative outlook.
The announcement was made during market hours today, 20 February 2015.
Meanwhile, the S&P BSE Sensex was down 91.12 points or 0.31% at 29,371.15.
On BSE, so far 4.85 lakh shares were traded in the counter as against average daily volume of 6.49 lakh shares in the past one quarter.
The stock hit a high of Rs 182.65 and a low of Rs 174.75 so far during the day. The stock had hit a 52-week high of Rs 259.60 on 9 June 2014. The stock had hit a 52-week low of Rs 101 on 24 February 2014.
The stock had underperformed the market over the past one month till 19 February 2015, sliding 25.93% compared with Sensex's 4.25% rise. The scrip had also underperformed the market in past one quarter, declining 18.9% as against Sensex's 5.1% rise.
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The large-cap PSU bank has equity capital of Rs 635.78 crore. Face value per share is Rs 10.
CRISIL has also revised its rating outlook on the long-term debt instruments to 'negative' from 'stable' and reaffirmed the ratings at CRISIL AAA and reaffirmed its ratings on the Bank's Certificates of Deposit programme at CRISIL A1+, Union Bank of India said.
Union Bank of India's net profit declined 13.3% to Rs 302.42 crore on 8.4% growth in total income to Rs 8921 crore in Q3 December 2014 over Q3 December 2013.
The Government of India held 60.47% stake in Union Bank of India (as per the shareholding pattern as on 31 December 2014).
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