Wednesday , 11 December 2019
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Union Bank of India trades higher on the BSE

Union Bank of India trades higher on the BSE

Union Bank of India is currently trading at Rs. 54.10, up by 0.20 points or 0.37% from its previous closing of Rs. 53.90 on the BSE.

The scrip opened at Rs. 53.75 and has touched a high and low of Rs. 55.10 and Rs. 53.75 respectively. So far 335433 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 100.30 on 03-Apr-2019 and a 52 week low of Rs. 48.05 on 11-Oct-2019.

Last one week high and low of the scrip stood at Rs. 60.60 and Rs. 53.60 respectively. The current market cap of the company is Rs. 18483.22 crore.

The promoters holding in the company stood at 74.27%, while Institutions and Non-Institutions held 16.08% and 9.65% respectively.

Union Bank of India has cut marginal cost of funds-based lending rates (MCLRs) by 5-10 basis points (bps) across all tenors, with effective from December 11. The Bank has reduced one-year MCLR rate to 8.20 per cent, down by 0.05 percentage point.

Overnight MCLR has been reduced by 10 bps to 7.75 per cent. The one-month to six-month tenor MCLRs have been cut in the range of 7.80 to 8.05 per cent.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories – Deposits, Loans and Advances, and Remittances & Collections. Its segments include treasury operations, corporate & wholesale banking, retail banking and other banking operations.

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