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Union Bank surges on entering into partnership with Maharashtra for OTC tax collection

Union Bank Of India | Bank - Public | BFSI | BSE: 532477 | NSE: UNIONBANK

27 Nov 2015 Evaluate

Union Bank of India is currently trading at Rs. 164.30, up by 4.05 points or 2.53% from its previous closing of Rs. 160.25 on the BSE.

The scrip opened at Rs. 159.50 and has touched a high and low of Rs. 164.80 and Rs. 159.50 respectively. So far 107500 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 253.50 on 23-Jan-2015 and a 52 week low of Rs. 129.80 on 08-May-2015.

Last one week high and low of the scrip stood at Rs. 164.80 and Rs. 157.80 respectively. The current market cap of the company is Rs. 11181.23 crore.

The promoters holding in the company stood at 63.44% while Institutions and Non-Institutions held 26.84% and 9.72% respectively.

Union Bank of India has entered into partnership with Maharashtra for over-the-counter (OTC) collection of taxes and receipts. The facility of collecting taxes and dues will be provided at all of its 500 branches across the state.

The bank has integrated its core banking with the Maharashtra virtual treasury, GRAS (Government Receipt Accounting System), to facilitate OTC tax collection, which will provide one more mode of payment for convenience of tax payers and the state.

The bank reported a rise of 77.24% in its net profit Rs 658.16 crore for the quarter ended September 30, 2015 as compared to net profit of Rs 371.34 crore for the same quarter in the previous year. Total income increased by 3.95% at Rs 9100.90 crore for quarter under review as compared to Rs 8754.69 crore for the quarter ended September 30, 2014.

Union Bank Of India Share Price

188.90 0.45 (0.24%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
SBI	1080.35
PNB	114.50
Canara Bank	142.35
Bank Of Baroda	280.00
Union Bank Of India	188.90
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Union Bank surges on entering into partnership with Maharashtra for OTC tax collection

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