Union Bank of India plunged 4.92% to Rs 253.20 at 12:24 IST on BSE, after net non-performing assets soared 91.85% to Rs 222.93 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was up 39.73 points, or 0.24%, to 16,850.54.
On BSE, 2.70 lakh shares were traded in the counter as against an average daily volume of 1.97 lakh shares in the past one quarter.
The stock hit a high of Rs 267 and a low of Rs 250.70 so far during. The stock had hit a 52-week high of Rs 281.75 on 23 October 2009 and a 52-week low of Rs 113.15 on 27 October 2008.
The stock has fallen nearly 7% in just two trading sessions from a recent high of Rs 271.30 on 22 October 2009.
The large-cap bank stock had outperformed the market over the past one month till 23 October 2009, gaining 8.45% as compared to the Sensex's 0.55% rise. It had underperformed the market in the past one quarter, rising 7.99% as compared to the Sensex's return of 10.37%.
The bank's equity capital is Rs 505.12 crore. Face value per share is Rs 10.
The current price of Rs 253.20 discounts the bank's Q1 June 2009 annualized EPS of Rs 35.02, by a PE multiple of 7.23.
The bank's gross non-performing assets (NPAs) increased 14.56% to Rs 1918.58 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs was 1.98% as on Q2 September 2009, slightly higher than 1.93% as on Q2 September 2008. The net NPAs as of Q2 September 2009 was at 0.23%, higher than 0.14% as on Q2 September 2008.
Union Bank of India's net profit jumped 39.74% to Rs 505.10 crore on 20.75% rise in total income to Rs 3760.90 crore in Q2 September 2009 over Q2 September 2008. The bank declared its results during trading hours today, 26 October 2009.
The bank's net interest income fell 11.27% to Rs 863.40 crore in Q2 September 2009 over Q2 September 2008
The bank operates in four segments, namely treasury, retail banking, corporate banking and other banking operations.
The Government of India holds 55.43% stake in the bank (as on 30 September 2009).