Union Bank of India green-lights foreign investment in UAMC
DSIJ Intelligence / 11 Aug 2017
Banking sector player Union Bank of India’s board has approved investments by foreign investors in Union Asset Management Company, which is a wholly-owned subsidiary of the bank and the asset management company for Union Mutual Fund.
Banking sector player Union Bank of India’s board has approved investments by foreign investors in Union Asset Management Company, which is a wholly-owned subsidiary of the bank and the asset management company for Union Mutual Fund.
Meanwhile, the stock on the BSE traded lower by 4.39% at Rs 128.55 per share. On the NSE it attracted a total traded volume of 51,83,873 shares and a traded value of Rs 6,527.01 lakhs. On a yearly basis the stock has given 3.31% returns and underperformed the BSE Mid-Cap index and the BSE Bankex index.
The company has delivered growth of 9.20% over the past five years. It has had a return on equity of 6.40% for the last three years.
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