Public sector lender - Union Bank of India's Q2 or second quarter profit is likely to dip 60.1 per cent to Rs 262.7 cr as compared to year ago period, in accordance with consensus estimates of the media. Net interest income, the difference between interest earned and interest expended, may rise 2.6 per cent year-on-year to Rs 2,157.3 cr in Q2. Analysts say if slippages fall below Rs 3600 cr (against Rs 3,603 cr in Q1) then that will be positive.
Movement in stressed assets shall be closely watched. Treasury gains might remain strong for the bank as government securities yield reduced by 49 basis points (bps) in Q2FY17. Ageing of NPA's might keep provisions on the higher end in spite of sequential decline in slippages.Interest reversal might keep net interest margin under pressure. Net interest margin in Q1 was at 2.28 per cent.
As of 09:45 a.m., Union Bank of India share price traded 0.18 per cent higher at Rs.137.30 on the National Stock Exchange (NSE) today. The scrip opened at Rs.138 from a previous closing of Rs.137.05. The stock touched the day’s high and low of Rs.138.25 and Rs.135.80, respectively.
The lower price band of the share is 123.35 and the upper price band is 150.75. The 52-week high of Union Bank of India share price is observed at Rs.174.00 (01-DEC-15) while the 52-week low is seen at Rs. 104.00 (29-FEB-16).
Union Bank of India is analyzed by Dynamic Levels Researchers and stock analysts as the top 500 performing scrips for this quarter among 1700 scrips which are listed on the National Stock Exchange (NSE).
For more details on the scrip and also financials and fundamentals of the company, please visit Union Bank of India share price history.Here you will also come across resistance and support levels of the Union Bank of India stock.
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