Buy Union Bank With Stop Loss Of Rs 380

Union BankTechnical analyst Parsh Zaveri of Zaveri Investments is bullish on Union Bank of India and has recommended 'buy' rating on the stock with a target of Rs 415.

According to analyst, the interested investors can buy the stock with a stop loss of Rs 380.

The stock of the company, on Nov 11, closed at Rs 390.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 426.80 and a low of Rs 238.55 on BSE.

Current EPS & P/E ratio stood at 40.23 and 9.81 respectively.

Union Bank of India has demanded the administration to inculcate Rs 1,500 crore.

The banking institution has plans to lift up around $175-$200 million via medium term notes (MTN) within the next one month period in order to finance its foreign business groups.

While lecturing on the sidelines of the 92nd Foundation Day function of the banking institution, Chairman and managing director MV Nair stated, "We have requested the government for capital infusion of Rs 1,500 crore. The government has to take a decision on how much to give. The equity infusion should take the government's holding to 60 per cent from 55 per cent at present."

Union Bank of India's biz sections comprises retail banking functioning, treasury operations, business wholesale banking and other banking functioning.

The different forms of deposits provided by the Union Bank include savings bank deposits, current deposits, current and savings account (CASA) deposits, and term deposits.

As of March 31, 2010, the bank owned 2,805 divisions and 2,327 ATMs.