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Union Bank of India gains on plan to raise Rs 3,000 crore to meet Basel-III norms after 2015

05 Aug 2013 Evaluate

Union Bank of India is currently trading at Rs 120.60, up by 3.80 points or 3.25% from its previous closing of Rs 116.80 on the BSE.

The scrip opened at Rs 118.10 and has touched a high and low of Rs 121.00 and Rs 114.60 respectively. So far 195730 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 115.40 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs 136.80 and Rs 115.40 respectively. The current market cap of the company is Rs 7179.43 crore.

The promoters holding in the company stood at 57.89% while Institutions and Non-Institutions held 29.30% and 12.82% respectively.

In a bid to meet Basel-III norms after 2015, mid-sized lender Union Bank of India is planning to raise Rs 3,000 crore towards equity. In this regard, the bank has given a proposal to the Ministry of Finance for the additional capital and it is currently being studied.

Indian banks, according to Basel III norms, have to maintain their capital adequacy ratio at 9% as against the minimum recommended requirement of 8%. Under Basel-III accord, banks have to maintain Tier-one capital (equity and reserves) at 7% of risk weighted assets (RWA) and a capital conservation bugger of 2.5% of RWA.

The bank had received capital infusion of Rs 1,140 crore from the government last year and it gave proposal to infuse nearly Rs 1,800 crore in this year.

The bank has reported a rise of 9.51% in its net profit at Rs 560.22 crore for first quarter ended June 30, 2013, as compared to Rs 511.59 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 16.04% to Rs 7613.53 crore for the quarter under review as compared to Rs 6561.10 crore for the quarter ended June 30, 2012.

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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