Meanwhile, the BSE Sensex was up 156.60 points or 0.81% at 19,583.31.
On BSE, 1.35 lakh shares were traded in the counter as against average daily volume of 2.21 lakh shares in the past one quarter.
The stock hit a high of Rs 282.75 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 276.25 so far during the day. 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 31 December 2012, surging 13.12% compared with the Sensex's 0.45% rise. The scrip had also outperformed the market in past one quarter, jumping 32.05% as against Sensex's 3.54% gain.
The large-cap state-run bank has equity capital of Rs 550.55 crore. Face value per share is Rs 10.
Shares of Union Bank of India have rallied 7.3% in six trading sessions from a recent low of Rs 262.90 on 21 December 2012.
Union Bank of India's board of directors at a meeting held on 27 December 2012, approved raising equity capital of bank through preferential allotment/qualified institutional placements/rights issue of shares. Earlier, Union Bank of India's board at a meeting held on 24 December 2012 approved raising of additional capital funds not exceeding Rs 1500 crore during the year 2012-13 by way of issue of Tier I and Tier II capital bonds as per eligibility.
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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