Stock To Buy: Motilal Oswal Recommends Multibagger PSU Bank Stock, TP Rs 165

Leading brokerage firm Motilal Oswal has recommended investors to buy Union Bank of India shares with target price of Rs 165 apiece. Current market price of Union Bank Of India shares on BSE is Rs 139.60 apiece. If you buy Union Bank Of India stock at current market price of Rs 139.60 apiece, you can fetch potential return of 18.19%. Union Bank Of India shares offered shareholders return of 47% in just last 3-months and 232% return in last 2-years. Check details below:

Union Bank Of India Q3 Results: The leading public sector lender on Friday i.e. January 20, 2024 declared a surge of 59.9% year-on-year (YoY) in its net profit to Rs 3,589.9 crore for Q3 ended December 31, 2023 as against the net profit of Rs 2,244.8 crore in the corresponding quarter of last year, as per the BSE filing of the bank.

Union Bank's Net interest income (NII), difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, soared 6.3% to 9,168 crore as compared to Rs 8,628.1 crore in the similar quarter of last year. The state-owned bank'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).

Union Bank Of India Stock Performance & Return: The 52-week high price of Union Bank Of India share on BSE is quoted at Rs 145.25 apiece and 52-week low price is Rs 60.32 apiece, respectively. The bank has a market capitalisation of Rs 1,03,551.90 crore. Union Bank Of India shares offered return of 58% in last 6-months, gained 74% in last 1-year, and offered return of 350% in last 3-years. In last 5-years, Union Bank Of India shares surged 69%.

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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