News for Union Bank of India (UNIONBANK.BO)

Hittesh Patel and Suresh N Patel, directors of Shinago Plantations Pvt Ltd, were sent to 10 days ED custody by a special court on Saturday

Improving macro numbers and a strong showing from autos in February lifted sentiment, while rising bond yeilds and weak global cues kept bulls in check.

Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company.

Read more about Indian Bank to divest stake in asset reconstruction JV ASREC India on Business Standard. State-owned Indian Bank on Friday said it will divest stake in joint venture entity ASREC (India) Ltd as part of asset monetisation exercise.The bank holds a 38.26 per cent stake in ASREC (India) Ltd.As part of the monetisation of the bank's

Customers of Andhra Bank and Corp Bank must get new cheque books

The bank holds 38.26% in ASREC and its board on Friday has approved a plan to fully or partly sell the stake. Bank of India, Union Bank of India, Life Insurance Corporation of India and Deutsche Bank are other stakeholders.

Read more about Indian Bank to monetise non-core assets, divest stake in ASREC (India) on Business Standard. ASERC acquires NPAs from banks and financial institutions at mutually agreed prices with the aim of maximising returns through innovative resolution strategies

Rohit Singre, Senior Technical Analyst at LKP Securities said, "Going forward, the index has good support at 15,000-mark. If it fails to hold above that, then some profit booking can be seen. On the higher side, 15,150-15,200 zone will be the stiff hurdle."

NPCI is a ‘not for profit’ company, while NUE may be a ‘for profit’ company; the latter’s entry may see consumers pay more for digital banking services, say insiders

High credit costs and its impact on profitability remain a concern. Icra has pointed out that the bank's management has guided for a credit provisioning of 2.5-3% of advances in FY21, which will likely consume the majority of operating profits for the year

Majesco, McDowell Holdings, Ortel Communications, Texmo Pipe & Products, Bombay Burmah Trading Corporation, Concord Drugs, Mazagon Dock Shipbuilders are also among the stocks in focus today.

The price action suggests that Nifty is likely to surpass its life-time high of 15,431, for a possible extension towards 15,578, said Abhishek Chinchalkar of FYERS.

Ajit Mishra, VP - Research, Religare Broking said, "In absence of any major trigger, we may see further consolidation in markets. Meanwhile, the focus should be on position management. Nifty has the next major support around the 14,850-14,950 zone."

The index was trading 1.55 per cent up at 20218.85.

Manish Hathiramani, technical analyst at Deen Dayal Investments said, "While we have good support at 14,200-14,300, a buy on dips strategy would be most appropriate."