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HomeSTOCKSThis Government Share Will Touch ₹170! Today Price Jumped After New Announcement

This Government Share Will Touch ₹170! Today Price Jumped After New Announcement

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Union Bank of India Ltd (NSE: UNIONBANK) share: Union Bank of India witnessed an upswing on Wednesday. On the third day of trading during the week, the share increased around 7 percent and reached a price of 150.70. 

This increase in shares has been announced following an important announcement by the bank.

What’s The Message From The Bank?

Union Bank of India has made public a qualified institutional placement (QIP) of 3000 crore with an initial price of 142.78 for each share. 

The floor price for the stock is less than the price of the stock on Wednesday. Over the past year, the bank’s stock has delivered multibagger returns, by a rise of more than 111. 

The standard Nifty 50 has risen by 24 percent over the same time.

What Was The December Quarter’s Result?

Union Bank’s profits jumped 60 percent to reach Rs 3590 crore during the period ending in December 2023 due to lower provisioning and a higher interest income. 

The total earnings of the bank grew to 29137 crore rupees, as compared to the figure of Rs 24154 crore in the previous year. 

The bank’s interest income grew to Rs 25363 crore from a figure of 20883 crore a year before.

What Is The Target Price?

A brokerage, set the price target for stocks of Union Bank of India. The brokerage anticipates the price to rise to 170 rupees. 

On the 5th day of February 2024, the value of shares was at the value of 155.30. That was also the 52-week highest for the stock. 

The price of the share at the time of publication, March 28, 2023, was 60.32 which is a 52-week low.

About Union Bank of India Ltd

Union Bank of India Ltd is a banking company based in India. It’s engaged with its Business of Wealth Management, Banking Services, Merchant Banking, Government Business, Mutual Funds, Agency Business Insurance, and many more. 

The segments of the company are Treasury Operations, Retail Banking Operations, Corporate and Wholesale Banking along Other Banking Operations. 

Treasury Operations segment: term and recurring deposits, savings, and current accounts, as well as online trading and demat accounts. 

The Retail Banking Operations segment: mutual funds as well as diverse insurance products, like life, health, non-life as well as general insurance.

Wholesale and Corporate banking segment: trade financing lines of credit as well as channel finance, working capital, and project finance. 

Other Banking Operation segment: NRI bank services as well as a range of remittance, treasury, and remittance services. 

The company’s total operating revenues are 80743.34 crores, and capital invested in equity is 6834.75 crores.

Fundamental Analysis of Union Bank of India Ltd

Market Cap₹ 1,07,555 Cr.
Current Price₹ 145.30
52-wk High₹ 155.35
52-wk Low₹ 60.35
Stock P/E7.67
Book Value₹ 115
Dividend2.07 %
ROCE5.02 %
ROE11.4 %
Face Value₹ 10.0
P/B Value1.26
OPM64.6 %
EPS₹ 18.6
Debt₹ 11,63,059 Cr.
Debt to Equity14.8

Union Bank of India Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹ 150₹ 165
2025₹ 215₹ 275
2026₹ 300₹ 315
2027₹ 325₹ 350
2028₹ 365₹ 385
2029₹ 405₹ 425
2030₹ 435₹ 450
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Union Bank of India Ltd Shareholding Pattern

Promoters Holding
Dec 202283.49%
Mar 202383.49%
June 202383.49%
Sept 202376.99%
Dec 202376.99%
FII Holding
Dec 20221.62%
Mar 20231.66%
June 20231.46%
Sept 20232.89%
Dec 20233.97%
DII Holding
Dec 20228.39%
Mar 20238.27%
June 20237.88%
Sept 202312.69%
Dec 202312.28%
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Public Holding
Dec 20226.49%
Mar 20236.57%
June 20237.17%
Sept 20237.42%
Dec 20236.76%

Union Bank of India Ltd Share: Last 5 Years’ Financial Condition

To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 34,314 Cr
2020₹ 37,479 Cr
2021₹ 69,311 Cr
2022₹ 68,230 Cr
2023₹ 96,029 Cr

Last 5 Years’ Net Profit:

2019₹ -2,922 Cr
2020₹ -3,121 Cr
2021₹ 2,863 Cr
2022₹ 5,265 Cr
2023₹ 13,281 Cr
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Last 10 Years’ Profit Growth:

10 Years:15%
5 Years:29%
3 Years:68%
Current Year:83%

Last 10 years’ Return on Equity (ROE):

10 Years:3%
5 Years:4%
3 Years:9%
Last Year:11%

Sales Growth Over 10 Years:

10 Years:12%
5 Years:20%
3 Years:29%
Current Year:26%

Conclusion

This article is a complete guide about Union Bank of India Ltd Share.

These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses. 

Also, We have talked in detail about the share’s future prospects and growth potential.

Hopefully, these informations will help you in your further investment. 

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Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. Also, the share price predictions are completely for reference purposes. The price predictions will only be valid when there are positive signs on the market. Any uncertainty about the company’s future or the current state of the market will not be considered in this study. We are not responsible for any financial loss you might incur through the information on this site. We are here to provide timely updates about the stock market and financial products to help you make better investment choices. Do your own research before any investment.

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