Union Bank of India gains 5.7% on robust results

Union Bank of India has announced its second quarter results. The company's Q2 net profit was up 57% at Rs 555 crore versus Rs 353 crore, year-on-year, (YoY).

Its net interest income was up 11% at Rs 1850.2 crore versus Rs 1,661 crore, YoY.

Its gross NPA was at 3.66% versus 3.76%, QoQ and net NPA was at 2.06% versus 2.2%, QoQ.

The company's provisions were down at Rs 487 crore versus Rs 518 crore, QoQ. Its capital adequacy ratio was at 11.39% versus 11.64%, QoQ.

At 12:20 hrs Union Bank of India was quoting at Rs 218.30, up Rs 11.85, or 5.74%. It has touched an intraday high of Rs 218.80 and an intraday low of Rs 200.50.
 
It was trading with volumes of 1,148,799 shares, compared to its five day average of 179,940 shares, an increase of 538.43%.
 
In the previous trading session, the share closed up 5.63% or Rs 11.00 at Rs 206.45.

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