Sell Union Bank of India, target price Rs 52: Emkay Global

Emkay Global has sell call on Union Bank of India with a target price of Rs 52. The current market price of Union Bank of India is Rs 76.2. Union Bank of India, incorporated in the year 1919, is a banking company (having a market cap of Rs 52251.64 Crore).

Union Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 23475.13 Crore, up 10.71 % from last quarter Total Income of Rs 21204.45 Crore and up 8.57 % from last year same quarter Total Income of Rs 21621.87 Crore. The bank reported net profit after tax of Rs 1853.12 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 83.49 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.13 per cent, DIIs 6.9 per cent.