Motilal Oswal Has Buy Call On Multibagger PSU Bank Stock, Target Price Rs 175

Motilal Oswal has recommended investors to buy public sector lender Union Bank Of India shares with target price of Rs 175 apiece. Current market price of Union Bank Of India shares on BSE is Rs 145.65 apiece with intraday gain of 3.48%.

If you decide to buy Union Bank Of India shares now at the current market price of Rs 145.65 apiece, you can fetch potential gain of 20.15%. Union Bank Of India shares offered return of 69% in last 6-months span and zoomed 117% in last 1-year period. Check details below:

Union Bank Of India Stock Performance & Return: The 52-week high price of Union Bank Of India shares on BSE is Rs 155.30 apiece and 52-week low price is Rs 60.32 apiece, respectively. The company has a market capitalisation of Rs 1,11,183.47 crore. Union Bank Of India shares declined over 1% in last 1-week, gained 32% in last 3-months, jumped 262% in last 2-years, and rallied 259% in last 3-years. In last 5-years, Union Bank Of India stock offered return of 104% and zoomed 41% in last 10-years.

Union Bank Of India Q3 Results: The renowned PSB on January 20, 2024 announced a growth of 59.9% year-on-year (YoY) in its net profit to Rs 3,589.9 crore for Q3 ended December 31, 2023 as compared to the net profit of Rs 2,244.8 crore in the corresponding quarter of last year, according to the regulatory filing.
Union Bank's Net interest income (NII) jumped 6.3% to 9,168 crore as compared to Rs 8,628.1 crore in the similar quarter of last year. The PSU's gross non-performing asset (GNPA) arrived at 4.83% for the December quarter as against 6.38% in the September quarter. Net NPA arrived at 1.08% as compared to 1.30% quarter-on-quarter (QoQ).

About: 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 76.99 percent in Bank's total share capital. The Bank, having its headquarters at Mumbai (India), was registered on November 11, 1919 as a limited company.

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