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
19 December, 2014 17:09 IST
`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)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Panacea Biotec join hands with Rising Pharmaceuticals - 19-Dec-2014 11:59
Petron Engineering gets LoI for contract worth Rs 240 mn - 19-Dec-2014 11:49
Dr Reddy's closes acquisition of Habitrol brand from Novartis - 19-Dec-2014 11:29
JET Airways introduces 12 additional domestic frequencies - 19-Dec-2014 10:56
Balaji Telefilms joins Indus Media to enter American television market - 19-Dec-2014 10:38
Punj Lloyd gets FIPB nod for manufacture of defence items - 18-Dec-2014 19:17
FIIs can invest up to 100% in Crompton Greaves: RBI - 18-Dec-2014 18:57
FIIs can invest up to 49% in Tree House Education: RBI - 18-Dec-2014 18:40
Logistics companies to be biggest beneficiaries of GST: Allcargo Logistics - 18-Dec-2014 16:40
IVRCL inks pact with Utico FZC to sell equity stake in its arm - 18-Dec-2014 15:46
Indusind Bank allots 51,947 shares under ESOS - 18-Dec-2014 15:25
more...
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