UNION BANK OF INDIA up by 9.36%: Traders Market Update| Espresso

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Espresso shot of the day – UNION BANK OF INDIA up by 9.36 percent

November 08, 2021
Espresso shot of the day – UNION BANK OF INDIA up by 9.36 percent

UNION BANK OF INDIA 53.75  (+9.36%) BSE – INE692A01016 | 8TH NOVEMBER 2021

Union Bank of India is one of the leading public sector banks of the country. The Bank is a listed entity and the Government of India holds an 83.50 percent in the Bank’s total share capital. The Bank, having its headquarters at Mumbai (India), was registered on November 11, 1919 as a limited company. Recently, Andhra Bank and Corporation Bank were amalgamated into Union Bank of India with effect from 01.04.2020. Today, it has a network of 9300+ domestic branches, 11800+ ATMs, 8216 BC Points serving over 120 million customers with 77000+ employees. The Bank’s total business as of 31st March 2021 stood at Rs.15,77,489 crores, comprising Rs. 9,23,805 crores of deposits and Rs. 6,53,684 crores of advances. The Bank also has 3 branches overseas at Hong Kong, Dubai International Financial Centre (UAE) & Sydney (Australia); 1 representative office in Abu Dhabi (UAE); 1 banking subsidiary at London (UK); 1 banking joint venture in Malaysia; 4 para-banking subsidiaries (domestic); 3 joint ventures (including 2 in life insurance business) and 1 associate - Chaitanya Godavari Gramin Bank. Union Bank of India is the first large public sector bank in the country to have implemented 100% core banking solution. The Bank has received several awards and recognition for its prowess in technology, digital banking, financial inclusion, MSME and development of human resources.

Recent Drivers

  • On Nov 2, 2021, Union Bank of India reported a nearly three-fold jump in its standalone net profit to Rs 1,526.12 crores.
  • On Oct 27,2021, the Bank has reduced interest rates on Home loan to its all-time low of 6.40%
  • On Oct 22, 2021, State-run Union Bank of India announced the appointment of Rajneesh Karnatak as Executive Director.
  • On Sep 14, 2021, Union Bank of India (UBI) said it syndicated a “sustainability-linked loan” facility aggregating $1.50 billion for a Singapore-based global trading corporate.
 (Sources: Business Lines, Economics Times, MoneyControl,)


Technical Force*

  • S&P BSE 200 cap month till date gain up by 2.67 %
  • Traded on new 52 Week High value 54.45
  • Spurt in volume by more than 2.66 times compare to previous vol. 3 months avg. volume – 15,81,582
  • Quantity traded: 62,65,020 Deliverable quantities: 23,13,796 (36.93 %)
  • Stock price jumped by more than 120 % from a one-year low level: 23.85 (Nov 13, 2020)
  • Daily RSI (14) is near Oversold territory today
  • 52-week-high: 54.45 | 52-week-low:  23.85


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

   83.48

69.52

50.53

36.57

17.58

3.62

-

    -

Fibonacci Pivot

69.52

   56.93

49.15

44.15

36.57

28.99

23.98

16.20

3.62


Today’s Close

54.40

SMA

BSE

10 DAY

48.66

20 DAY

46.64

50 DAY

39.89

200 DAY

36.85


Some Key Ratios (Source: BSE)

Market Cap: 37,181.03 crores

PE: 7.71

OPM%: -

ROE%: 6.85

Promoters holding%: 83.49

Prev. Close: 49.15


Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.