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United Bank of India surges on turning black in Q1

United Bank of India is currently trading at Rs. 9.66, up by 0.13 points or 1.36% from its previous closing of Rs. 9.53 on the BSE.

The scrip opened at Rs. 9.69 and has touched a high and low of Rs. 9.87 and Rs. 9.61 respectively. So far 24642 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 13.25 on 01-Jan-2019 and a 52 week low of Rs. 9.05 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 9.87 and Rs. 9.36 respectively. The current market cap of the company is Rs. 7331.36 crore.

The promoters holding in the company stood at 96.83%, while Institutions and Non-Institutions held 1.53% and 1.64% respectively.

United Bank of India has reported a net profit of Rs 104.99 crore for the quarter ended June 30, 2019 as against net loss of Rs 388.68 crore for the same quarter in the previous year. Total income of the Bank increased by 17.78% at Rs 3003.13 crore for Q1FY20 as compared Rs 2549.71 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the April-June quarter of the current fiscal improved to 15.89%, as compared to 22.73% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 8.19% in Q1FY20.

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