Union Bank of India slumped 5.67% to Rs 237.15 at 12:25 IST on BSE after the bank's net profit declined 13.33% to Rs 302.42 crore on 8.39% rise in total income to Rs 8921 crore in Q3 December 2014 over Q3 December 2013.
The Q3 result was announced during market hours today, 27 January 2015.
Meanwhile, the S&P BSE Sensex was up 29.48 points or 0.10% at 29,308.32.
On BSE, so far 3.65 lakh shares were traded in the counter as against average daily volume of 5.83 lakh shares in the past one quarter.
The stock hit a high of Rs 253 and a low of Rs 236.15 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 100.60 on 14 February 2014.
The stock had outperformed the market over the past one month till 23 January 2015, gaining 12.74% compared with Sensex's 6.44% rise. The scrip had also outperformed the market in past one quarter, jumping 13.7% as against Sensex's 9.04% rise.
Also Read
The large-cap PSU bank has equity capital of Rs 635.78 crore. Face value per share is Rs 10.
The bank's provisions and contingencies rose 39.56% to Rs 851.92 crore in Q3 December 2014 over Q3 December 2013. The bank's provisions and contingencies rose 8.46% to Rs 851.92 crore in Q3 December 2014 over Q2 September 2013.
On absolute basis, gross non-performing assets (NPAs) jumped to Rs 12596 crore as on 31 December 2014, from Rs 11461.62 crore as on 30 September 2014 and Rs 8776.19 crore as on 31 December 2013. The ratio of gross NPAs to gross advances rose to 5.08% as on 31 December 2014, from 4.69% as on 30 September 2014 and 3.85% as on 31 December 2013. The ratio of net NPAs to net advances increased to 2.95% as on 31 December 2014, from 2.71% as on 30 September 2014 and 2.26% as on 31 December 2013.
Net interest margin (NIM) stood at 2.57% for Q3 December 2014 as against 2.6% for Q2 September 2014 and 2.64% in Q3 December 2013.
The Government of India holds 60.47% stake in the bank as at 31 December 2014.
Powered by Capital Market - Live News