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
21 October, 2014 10:51 IST
News
`Buy` United Bank of India; target Rs 87: Angel Broking
Source: IRIS | 07 May, 2012, 02.32PM
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
BGR Energy jumps on new order worth Rs 2.5 bn - 21-Oct-2014 09:57
Motilal Oswal Financial Services standalone quarterly net zooms 2.70 times - 20-Oct-2014 20:12
BGR Energy secures new contracts worth Rs 2.5 bn - 20-Oct-2014 19:24
Rane Brake Lining standalone quarterly profit declines 37.92% - 20-Oct-2014 18:57
Centron Industrial Alliance standalone quarterly net surges 57.19% - 20-Oct-2014 18:51
S K S Microfinance standalone quarterly profit soars 3.47 times - 20-Oct-2014 18:48
Sasken Communication Technologies standalone quarterly net soars 6.53 times - 20-Oct-2014 18:45
Idea Cellular consolidated quarterly net jumps 68.87% - 20-Oct-2014 18:41
Exide Industries standalone quarterly profit rises 6.01% - 20-Oct-2014 16:24
Dolphin Offshore Enterprises (India) consolidated quarterly earnings drop 10.48% - 20-Oct-2014 16:14
Zee Media Corporation swings to loss in Jul-Sep quarter - 20-Oct-2014 16:08
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   b9cw74 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer