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26.01.2020


AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT

UNITED BANK OF INDIA LTD
CMP 9 FACE VALUE : Rs.10
ENTER LEVEL – 8 TO 9 STOPLOSS-ZERO TARGET 50 IN 36 MONTHS

Founded in 1950, United Bank of India provides various banking products and services in India. The company operates through Treasury,Corporate/Wholesale Banking, Retail Banking, and Other Banking segments. It had a branch network of more than 2055 branches and network of 2000 ATMs. It has an equity base of Rs.7429.92crore that is supported by reserve of around Rs.3147.18crore. The promoters
(Government of India) hold 97.41%, LIC of India hold 1.05% while other investing public hold only 1.54% stake in the company.Bank was suffering from bad loan issue like other PSU banks. But fortune of this bank already changed and it posted turn around numbers in H1FY20." During Q2FY20, it posted PAT of
Rs.123.88crore against loss of Rs.883.17crore. During H1FY20, it posted PAT of Rs.228.87crore against loss of Rs.1271.85crore." Its GNPA reduced from 22.69% to 15.51% during Q2FY20 while NNPA reduced from 14.36% to 7.88%. " Bank came out with an IPO at Rs.66 and It has made all-time high of Rs.150 in 2010 " Made low of Rs.6.95 in October 2019 and now it is trading around Rs.9.1 level." Its book value per share is around Rs.13.47 and stock is available at just 0.67 times against itsbook value." Bank allotted shares at Rs.10.15 per share and received Rs.1666crore from Government of India. " UBI will merge with PNB and OBC. The PNB-OBC-UBI amalgamation will create India's second largest bank. Government hold 83.19% stake in PNB, 87.58% stake in OBC while Government hold 97.41% stake in UBI so merger ratio may be favorable for UBI. Bank has given strong turn around numbers in first half of FY20 and it may declare turn around numbers in second half also. Stock is available at highly attractive price.

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