Buy Union Bank of India with a target of Rs 165 -- Shrikant Chouhan

Shrikant Chouhan of Kotak Securities Limited has a buy call on Union Bank of India with a target price of Rs 165.0 .The current market price of Union Bank of India is Rs 157.15 Time period given by analyst is Intra Day when Union Bank of India price can reach defined target. Shrikant Chouhan recommended to keep stoploss at Rs 149.0 .

Union Bank of India, incorporated in the year 1919, is a banking company with a market cap of ₹ 10631.28 Cr.).

Union Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed ₹ 23658.06 Cr to Sales Value (73.47 % of Total Sales), Income From Investment which contributed ₹ 7535.15 Cr to Sales Value (23.40 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed ₹ 816.14 Cr to Sales Value (2.53 % of Total Sales) and Interest which contributed ₹ 189.46 Cr to Sales Value (0.58 % of Total Sales)for the year ending 31-Mar-2016.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 32402.74 Cr. (11.70 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 18245.60 Cr. (6.95% of total assets). For the quarter ended 31-12-2016, the company has reported a Standalone Interest Income of ₹ 5693.86 Cr., down -2.12 % from last quarter Interest Income of ₹ 5817.05 Cr. and down -1.35 % from last year same quarter Interest Income of ₹ 5771.91 Cr. The bank has reported net profit after tax of ₹ 104.00 Cr. in latest quarter.