Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
15 September, 2014 07:31 IST
`Buy` United Bank of India; target Rs 87: Angel Broking
Source: IRIS (07-MAY-12)
Comments  |  Post Comment

Angel Broking has recommended `Buy` on United Bank of India with a price target of Rs 87 as against the current market price (CMP) of Rs 64 in its report dated May. 07, 2012.

United Bank reported a weak set of numbers with net profit growing by muted 4.2% yoy to Rs 1.49 billion, which were below our estimates mostly due to higher provisioning expenses than estimated by us. 

Calculated margins for the bank dipped by 38bp qoq to 2.6%.

Asset quality of the bank deteriorated during 4QFY2012 with gross NPA level increasing by 12.2% qoq.

The bank`s provisioning coverage ratio, however, increased by 265bp qoq to 69.2%, leading to net NPA level declining by 8.7% sequentially. It has given a Buy rating on the stock with a target price of Rs 87.

Click here to view full report

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

United Bank Of India   (Q,N,C,F)*

Top Stories
Emco allots shares under ESOS 2011 - 12-Sep-2014 18:42
Symphony enters large cap league as its market cap crosses Rs 50 bn mark - 12-Sep-2014 18:32
Tata Motors, Microlise join hands for Fleet management services - 12-Sep-2014 18:23
Bajaj Electricals bags orders worth Rs 5.18 bn - 12-Sep-2014 17:14
Fortis Healthcare arm to divest 100% shareholding in RadLink-Asia - 12-Sep-2014 17:14
ICICIdirect maintains 'Buy' on United Spirits - 12-Sep-2014 16:56
Titan commissions stainless steel case plant at Coimbatore - 12-Sep-2014 16:16
Lupin inks pact with Salix Pharma - 12-Sep-2014 15:46
Wipro launches centre of excellence for Oracle Engineered Solutions - 12-Sep-2014 15:43
Ingersoll Rand surges 10% on Rs 1 bn expansion project - 12-Sep-2014 15:39
Ingersoll Rand to invest Rs 1 bn in Gujarat - 12-Sep-2014 15:38
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Security Code type   7b9h6d into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer