The state-run bank made the announcement during trading hours today, 24 December 2012.
Meanwhile, the BSE Sensex was up 45.98 points or 0.24% at 19,287.98.
On BSE, 37,000 shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past one quarter.
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The stock hit a high of Rs 265.85 and a low of Rs 261.40 so far during the day. The stock had hit a 52-week high of Rs 278 on 19 December 2012. The stock had hit a 52-week low of Rs 150.10 on 30 August 2012.
The stock had outperformed the market over the past one month till 21 December 2012, jumping 15.94% compared with the Sensex's 4.23% rise. The scrip had also outperformed the market in past one quarter, surging 30.96% as against Sensex's 2.61% gain.
The large-cap state-run bank has equity capital of Rs 550.55 crore. Face value per share is Rs 10.
Earlier, Union Bank of India after market hours on Friday, 21 December 2012, said its board will meet on 27 December 2012 to consider the proposal of raising equity capital of the bank by way of preferential allotment/QIP/rights issue.
Union Bank of India's net profit jumped 57.3% to Rs 554.56 crore on 18.6% growth in total income to Rs 6655.66 crore in Q2 September 2012 over Q2 September 2011.
The Government of India (GoI) holds 54.35% stake in Union Bank of India (as per the shareholding pattern as on 30 September 2012).
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