Union Bank of India declined over 6% and touched monthly high of Rs215.15, after Moody’s downgrades Union Bank of India's ratings, So far, 1.12 lakh shares have traded on the BSE as against the two-week average volume of 0.76 lakh shares.
Moody's Investors Service has downgraded by one notch (D from D+) the ratings for Union Bank of India (UBI).
This is on account of UBI's weaker financial metrics in particular, its high level of troubled assets, and low provision coverage. This is negative for Union bank of India and we continue to maintain hold rating on the stock.
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Moody's Investors Service has downgraded by one notch (D from D+) the ratings for Union Bank of India (UBI).
This is on account of UBI's weaker financial metrics in particular, its high level of troubled assets, and low provision coverage. This is negative for Union bank of India and we continue to maintain hold rating on the stock.
....more info