Union Bank of India spurts on subscribing stake in SUD life
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Union Bank of India is currently trading at Rs. 85.95, up by 2.20 points or 2.63% from its previous closing of Rs. 83.75 on the BSE.
The scrip opened at Rs. 84.20 and has touched a high and low of Rs. 87.20 and Rs. 84.20 respectively. So far 1004159 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 96.40 on 14-Dec-2022 and a 52 week low of Rs. 33.55 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 96.40 and Rs. 82.60 respectively. The current market cap of the company is Rs. 59223.09 crore.
The promoters holding in the company stood at 83.49%, while Institutions and Non-Institutions held 8.48% and 8.02% respectively.
Union Bank of India has subscribed 2,00,80,000 Equity Shares of Star Union Dai-Ichi Life Insurance Company (SUD life) offered under rights issue by the Company at Rs 25 per share aggregating to Rs 50.20 crore. The subscription under rights issue is to infuse additional capital in proportion to Bank’s holding level to facilitate business expansion.
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.
