The IPO pipeline for 2023 looks strong with several consumer-tech and new-age companies attempting to get their listing plans on track as further clarity emerges from the regulatory perspective.

The dollar bondholders were jittery about timely payment because 100% of the promoter's equity is pledged with lenders, and delay in arranging refinance prompted Moody's to downgrade the 'corporate family rating' by one notch last October. Within days of the downgrade, Vedanta announced it would discontinue rating engagement with Moody's.

Dalal Street investors were left poorer by Rs 4.9 lakh crore as the total market capitalisation of BSE-listed stocks dropped to Rs 2,76,495 lakh crore. Bank stocks were among the worst affected as Nifty Bank lost over 1,000 points or 2.5%. PSU bank stocks, which were outperforming in the last few months, were among the worst hit.

Motilal Oswal is bullish on Union Bank of India recommended buy rating on the stock with a target price of Rs 100 in its research report dated January 21, 2023.

The net interest income of the bank for the quarter ended 31st December 2022 grew by 20.26% to Rs 8,628 crore from Rs 7,174 crore for the quarter ended 31st December 2021. Its net interest margin or NIM rose to 3.21% during the December 2022 quarter, higher by 21 bps year-on-year (YoY) and 6 bps quarter-on-quarter (QoQ).

Union Bank of India Q3 result: Provisions and contingencies at Rs 3,036 crore were up 19 percent from the year-ago quarter but fell 25.5 percent sequentially

Union Bank of India, incorporated in the year 1919, is a banking company (having a market cap of Rs 56762.58 Crore).

SBI's offer to sell this account comes even as the Orissa High Court, for the second time, stayed initiation of the insolvency process against Visa after the Cuttack bench of the National Company Law Tribunal (NCLT) had admitted the borrower for commencement of bankruptcy proceedings, acting on a plea by Punjab National Bank (PNB) late November.

One of my favourite quotes this year has been, 'Things that never happened before happen all the time'. The events in the recent past such as demonetisation, the pandemic, and the Russia-Ukraine conflict are testimony to this.

With the appointment of IDBI Bank's J Samuel Joseph last month, NaBFID now has all three deputy managing directors (DMDs) in place. Joseph will be in charge of lending & project finance for the financial institution. Former Union Bank of India executives Monika Kalia and BS Venkatesha have already taken over as the chief financial officer and chief risk officer, respectively.

Banks received six bids with resolution plans ranging from ₹145 crore to ₹250 crore in the initial round of bidding conducted last month. Sankalp's offer was closely followed by Mumbai-based Rockwood Hotels & Resorts, which offered ₹247 crore payable over eight years, documents accessed by ET showed.

“The market has fallen quite substantially and there is absolutely no point in selling stocks if we are holding good quality stocks. I have been bullish on like L&T, I believe is going to be doing very well going forward and if somebody is building their portfolio after correction, L&T definitely is a good buy at current level.”

Investec maintained its buy rating on Union Bank with a target price of Rs 240. The company reported a divergence of Rs 260 crore or 64 bps of advances and no material impact on estimates, it said."Increasing instances of internal lapses - a sign of underlying weakness caused due to Covid. Pressure on further valuations, but the event is backwards-looking," Investec said.

Money managers do expect the banking pack to remain on the top of the betting list in 2023 as a recovery in the domestic economy will see the sector leading earnings growth for India Inc.

Union Bank of India, incorporated in the year 1919, is a banking company (having a market cap of Rs 64417.49 Crore).

Another sector that is looking attractive is capital goods and from that space we like L&T. We have witnessed very strong momentum throughout the week and the stock is making a series of higher top, higher bottom formation. So there is a clear uptrend in the stock and we believe that L&T will continue its upward momentum.

Another sector that is looking attractive is capital goods and from that space we like L&T. We have witnessed very strong momentum throughout the week and the stock is making a series of higher top, higher bottom formation. So there is a clear uptrend in the stock and we believe that L&T will continue its upward momentum.

Stocks that were in focus include names like Bank of India which was up nearly 5%, Union Bank of India which gained over 6%, and RCF which was up over 3% on Tuesday.

UK-headquartered investment firm and promoter abrdn Investment Management plans to sell its entire 10.21% stake in the HDFC AMC via block deal and will cease to be a co-sponsor of the company.

In the Nifty 50 index, 23 stocks ended in the green, while 27 stocks closed in the red in today's trade.

In the Nifty50 index, 23 stocks closed in the green, while 27 stocks ended in the red.

In the Nifty pack, 23 stocks closed in the green, while 27 stocks ended in the red.

With the recent rate hikes, inflation has started coming down. This will also help companies with decent debt equity ratio to improve their margins. Considering all these factors, there are no indications of topping the indices. However, having said that we may see some shift to the value stocks from expensive stocks.

The Nifty Auto index was trading 0.38 per cent down at 12957.6.

The Nifty Pharma index was trading 0.61 per cent down at 12973.45.

In the Nifty50 index, 13 stocks were trading in the green, while 35 stocks were in the red.

Among the others interested in the company, with a hotel property in Mumbai's Powai, are large alternative asset funds such as Oaktree, Kotak Investment Advisors and asset reconstruction companies.

“The momentum oscillators are in the buy zone, which will confirm the strength of the index. The index remains in a buy-on-dip mode as long as the support levels are held,” said Kunal Shah, senior technical analyst at LKP Securities.

Union Bank of India, incorporated in the year 1919, is a banking company (having a market cap of Rs 52251.64 Crore).

Last week a government notification was also issued that increased the maximum tenure of CEO and MD of public sector banks to 10 years from five years earlier. The move will help PSU lenders retain talent.

The Nifty Bank index closed 0.05 per cent down at 42437.45.

The Nifty Auto index closed 1.18 per cent down at 12774.9.

The Nifty IT index closed 0.04 per cent down at 29669.25.

The Nifty Pharma index closed 0.67 per cent down at 12861.4.

The Nifty Realty index closed 0.1 per cent up at 448.8.

The Nifty Realty index was trading 0.86 per cent down at 444.5.

The Nifty Pharma index was trading 0.6 per cent down at 12870.55.

The Nifty IT index was trading 0.49 per cent down at 29536.0.

The Nifty Auto index was trading 0.44 per cent down at 12870.05.

The Nifty Bank index was trading 0.04 per cent up at 42474.2.

If the stock manages to close above the same, then we can expect an uptrend rally towards 4500-4600. On the flip side, trading below 3850 may increase further weakness till 3700.

While BofA continues to have a positive outlook on India's largest lender State Bank of India with a neutral rating and a target price of ₹680 per share, it expects Bank of Baroda (BoB) to lead the rest of the PSU bank pack due to its diversified yet relatively safe loan book, and a more advanced digital strategy.

Union Bank of India shares gained 4.7 percent to close at Rs 66, forming long bullish candle on the daily charts with above average volumes. The stock closed above the median of Monday's red candle, may be indicating positive mood.

Promoted by Kamal Singh, Rolta India has an outstanding due of ₹5,712 crore with banks and senior notes (overseas borrowings) of ₹3,382 crore, as of March 31, 2022, according to a disclosure made by the company to the stock exchanges. The offer by NARCL is for domestic loans.

Midcap and smallcap stocks have been the darlings of the street this year as retail investors flocked into those offering better risk-reward and look promising from an earnings growth perspective.

Stocks that were in focus include names like Lupin which was up more than 3%, Adani Green which fell nearly 2% ahead of results, and Union Bank of India which closed with gains of over 4% on Thursday.