Union Bank of India gains on inking agreement to sell 8% stake in ISARC to Dhansamridhi Finance
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Union Bank of India is currently trading at Rs. 43.90, up by 0.25 points or 0.57% from its previous closing of Rs. 43.65 on the BSE.
The scrip opened at Rs. 44.40 and has touched a high and low of Rs. 44.40 and Rs. 43.75 respectively. So far 671041 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 54.80 on 09-Nov-2021 and a 52 week low of Rs. 32.20 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 44.50 and Rs. 38.50 respectively. The current market cap of the company is Rs. 30243.76 crore.
The promoters holding in the company stood at 83.49%, while Institutions and Non-Institutions held 8.21% and 8.30% respectively.
Union Bank of India has executed an agreement for sale of its 8% stake in India SME Asset Reconstruction Company (ISARC) in favour of Dhansamridhi Finance. The stake sale is subject to obtaining requisite regulatory approvals.
ISARC is the country's first ARC (Asset Reconstruction Companies) supported by a large number of public sector banks and undertakings, focussed on NPA resolution of the MSME sector.
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.
