Union Bank of India trades in green on the BSE

Union Bank of India (UBI) is currently trading at Rs. 246.10, up by 1.70 points or 0.70% from its previous closing of Rs. 244.40 on the BSE. The scrip opened at Rs. 244.00 and has touched a high and low of Rs. 252.25 and Rs. 242.40 respectively. So far 343738 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 259.60 on 09-Jun-2014 and a 52 week low of Rs. 97.10 on 29-Aug-2013. Last one week high and low of the scrip stood at Rs. 259.60 and Rs. 213.65 respectively. The current market cap of the company is Rs. 15637.90 crore. The promoters holding in the company stood at 60.13%, while Institutions and Non-Institutions held 25.09% and 14.78% respectively. State-run Union Bank of India (UBI) is expecting a growth of around 12% in its total business for the current fiscal to over Rs 5.32 lakh crore. Moreover, the bank is taking initiative in national financial inclusion plan and committed for up-liftment of society by providing maximum assistance to agriculture, self-help groups (SHGs) and micro credit. Meanwhile, the bank’s gross NPAs surged to Rs 9,563.72 crore last fiscal from Rs 6,313.83 crore in 2012-13. The bank posted a fall of 26.66% in its net profit at Rs 578.96 crore for the quarter ended March 31, 2014 as compared to Rs 789.38 crore for the same quarter in the previous year.  However, total income of the bank increased by 12.59% at Rs 8444.95 crore for quarter under review as compared to Rs 7500.59 crore for the quarter ended March 31, 2013.