Union Bank of India shines on plans to mop up $500 million via MTN issue

12 Apr 2013 Evaluate

Union Bank of India is currently trading at Rs. 215.00, up by 1.45 points or 0.68% from its previous closing of Rs. 213.55 on the BSE.

The scrip opened at Rs. 211.20 and has touched a high and low of Rs. 215.35 and Rs. 210.20 respectively. So far 44451 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 288.00 on 02-Jan-2013 and a 52 week low of Rs. 150.10 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs. 224.55 and Rs. 204.75 respectively. The current market cap of the company is Rs. 12831.08 crore.

The promoters holding in the company stood at 57.89% while Institutions and Non-Institutions held 28.64% and 13.47% respectively.

Union Bank of India is planning to raise $500 million through issue of medium-term notes (MTN) to investors in Singapore, Hong Kong and London. In this regard, the bank will start road shows for the issue from next week. The bank will use the raised fund for its international operations.

In March, the bank had opened a branch in Dubai International Financial Centre (DIFC), which is the lender's second foreign branch. The other overseas branch of the bank is at Hong Kong.

The bank has reported 37.67% rise in its net profit at Rs 302.40 crore for third quarter ended December 31, 2012 as compared to Rs 219.66 crore for the same quarter in the previous year. Total income of the bank has increased by 16.19% at Rs 6959.37 crore for quarter under review as compared to Rs 5989.48 crore for the quarter ended December 31, 2011.

Union Bank Of India Share Price

117.75 1.15 (0.99%)
23-Dec-2024 12:14 View Price Chart
Peers
Company Name CMP
SBI 821.95
Bank Of Baroda 245.00
Canara Bank 101.05
PNB 102.05
Union Bank Of India 117.75
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