Union Bank of India soars on reporting 23% rise in Q2 consolidated net profit

Union Bank Of India is currently trading at Rs. 49.15, up by 1.90 points or 4.02% from its previous closing of Rs. 47.25 on the BSE.

union bank of india trades higher on the bse e1576056406392
Union Bank Of India

The scrip opened at Rs. 47.80 and has touched a high and low of Rs. 49.50 and Rs. 47.55 respectively. So far 2920054 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 54.80 on 09-Nov-2021 and a 52 week low of Rs. 33.55 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 49.50 and Rs. 42.60 respectively. The current market cap of the company is Rs. 33558.61 crore.

The promoters holding in the company stood at 83.50%, while Institutions and Non-Institutions held 8.04% and 8.47% respectively.

Union Bank of India has reported rise of 21.07% in its net profit at Rs 1847.70 crore for Q2FY23 as compared to Rs 1526.12 crore for the corresponding quarter previous year.

Total income of the bank increased by 10.99% to Rs 22957.94 crore for the quarter under review as compared to Rs 20683.95 crore for the same quarter in the previous year.

On the consolidated basis, the bank has reported rise of 22.67% in its net profit at Rs 1853.12 crore for the quarter under review as compared to Rs 1510.68 crore for the same quarter in the previous year.

Total income of the bank increased by 8.57% to Rs 23475.13 crore for the quarter under review as compared to Rs 21621.87 crore for the same quarter in the previous year.

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