Union Bank of India gains on getting nod to raise fund through bonds

Union Bank of India is currently trading at Rs. 35.85, up by 0.30 points or 0.84 % from its previous closing of Rs. 35.55 on the BSE.

union bank of india trades higher on the bse e1576056406392
union bank of india trades higher on the bse e1576056406392

The scrip opened at Rs. 36.40 and has touched a high and low of Rs. 36.45 and Rs. 35.65 respectively. So far 191342 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 54.80 on 09-Nov-2021 and a 52 week low of Rs. 32.65 on 23-Aug-2021.

Last one week high and low of the scrip stood at Rs. 36.90 and Rs. 34.50 respectively. The current market cap of the company is Rs. 24605.09 crore.

The promoters holding in the company stood at 83.50%, while Institutions and Non-Institutions held 8.23% and 8.27% respectively.

Union Bank of India has received approval for raising of AT 1 and/or Tier 2 bonds not exceeding Rs 4,300 crore within the overall Limit of Rs 8,100 crore (including Green/foreign currency denominated AT1 /Tier 2 Bonds). The Board of Directors in its meeting held on May 26, 2022, inter-alia, considered & approved the same.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories – Deposits, Loans and Advances, and Remittances & Collections.

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