Company Profile

Union Bank of India has reported results for first quarter ended June 30, 2021.

The bank has reported above 3- fold jump in its net profit of Rs 1180.98 crore for the quarter under review as against net profit of Rs 332.74 crore for the same quarter in the previous year. However, total income of the bank increased 0.71% at Rs 20035.10 crore for Q1FY22 as compared Rs 19894.26 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported 3-fold jump in its net profit of Rs 1120.15 crore for the quarter under review as against net profit of Rs 340.95 crore for the same quarter in the previous year. Total income of the bank increased by 0.88% at Rs 20666.62 crore for Q1FY22 as compared Rs 20487.01 crore for the corresponding quarter previous year.

HG Infra Engineering has been declared as L-l bidder by National Highways Authority of India (NHAI) for the project Development of 6-lane Urban Extension Road (UER) - 2 - NH 344 M, Package I (From NH1 to Karala - Kanjhawala Road, Km -0+700 to 15+000) in the state of Delhi on EPC mode. The estimated project cost is Rs 1646.57 crore and HGINFRA's bid project cost is Rs 1393.11 crore and completion period is 2 years.

Tech Mahindra has entered into the Managed Security Services Provider (MSSP) partnership with Palo Alto Networks, a global cybersecurity leader. This agreement leads to the expansion of Tech Mahindra’s global partnership with the company to provide a full suite of Managed Security Services.

Union Bank of India has allotted Unsecured, Subordinated, Non-Convertible, Taxable, Fully Paid-Up Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Tier 2 Capital ('Bonds') Series XXXI aggregating to Rs 1150 crore on July 9, 2021. The redemption date is set as July 9, 2036. The bonds with tenor of 15 years carry coupon rate of 7.25 per cent per annum.

Aditya Vision plans to expand its retail footprints to neighbouring markets of Jharkhand, West Bengal, Eastern UP and Assam in the next two years.

Quess Corp has acquired additional 33% stake in digital gig worker platform Taskmo with an investment of about Rs 3.2 crore. Earlier, the company held a 16.12% stake in Stellarslog Technovation, which operates under the name of Taskmo. This investment will strengthen Quess' presence in the digital gig economy and enable it to serve the demand for flexible gig workers from existing and new clients.

Salzer Electronics has executed a Joint Venture Agreement with Kostad Steuerungsbau GmbH to manufacture DC Fast charging stations for electric vehicles (EV). Salzer will form a joint venture company named Salzer Kostad EV Chargers, with Austria-based company Kostad Steuerungsbau GmbH (Kostad). The JV will engage in the manufacturing of DC Fast charging stations for electrical Cars, Trucks & Buses, and components and systems thereof, in India.

Anjani Portland Cement has purchased another 9285208 (6.64%) fully paid-up equity shares capital of Bhavya Cements (Investee Company) from its existing Shareholders at a price of Rs 52.59 per Share. The objective of purchase is to further consolidate the shareholding of the company in Bhavya Cements. The additional purchase would result in an increase in company’s shareholding in Bhavya Cements from 82.51% to 89.15%.

Indian Railway Catering and Tourism Corporation (IRCTC) is planning to restore services of its Lucknow- New Delhi Tejas Express (Train No. 82501/82502 LJN- NDLS -LJN) with effective from August 07, 2021 for 4 days a week.

Union Bank of India is currently trading at Rs. 36.95, up by 0.20 points or 0.54% from its previous closing of Rs. 36.75 on the BSE.

The scrip opened at Rs. 36.75 and has touched a high and low of Rs. 37.25 and Rs. 36.65 respectively. So far 876416 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 45.25 on 18-Feb-2021 and a 52 week low of Rs. 23.10 on 16-Oct-2020.

Last one week high and low of the scrip stood at Rs. 39.40 and Rs. 36.60 respectively. The current market cap of the company is Rs. 25151.87 crore.

The promoters holding in the company stood at 89.07%, while Institutions and Non-Institutions held 5.03% and 5.90% respectively.

Union Bank of India has allotted Unsecured, Subordinated, Non-Convertible, Taxable, Fully Paid-Up Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Tier 2 Capital ('Bonds') Series XXXI aggregating to Rs 1150 crore on July 9, 2021. The redemption date is set as July 9, 2036. The bonds with tenor of 15 years carry coupon rate of 7.25 per cent per annum.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections.

Union Bank of India has allotted Unsecured, Subordinated, Non-Convertible, Taxable, Fully Paid-Up Basel III Compliant Debt Instruments in the nature of Debentures eligible for inclusion in Tier 2 Capital ('Bonds') Series XXXI aggregating to Rs 1150 crore on July 9, 2021. The redemption date is set as July 9, 2036. The bonds with tenor of 15 years carry coupon rate of 7.25 per cent per annum.

Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections.

Union Bank of India has submitted notice of AGM. 

The above information is a part of company’s filings submitted to BSE.