You can buy Union Bank of India shares easily with a Motilal Oswal demat account. Open an account for free by entering basic personal details, and submitting your PAN number and bank account details.
As of May 10, 2023, Union Bank is trading at Rs. 70.40 while the target price is Rs. 95. Motilal Oswal expects a 34.94% upside and maintains a Buy recommendation.
Union Bank is currently trading at Rs. 70.40, close to its 52-week high of Rs. 94.25 achieved in December 2022. Historically, stocks have shown a tendency to perform well in the near term when trading near their 52-week high.
Union Bank operates at a 1-year beta level of 1.4 which means that the stock is more volatile than the benchmark index. It is a relatively risky stock with the potential to offer a high return.
The stock price of Union Bank is influenced by various factors, including financial performance (revenue growth, profitability, and asset quality), market conditions (overall economic state and interest rates), regulatory environment (changes in banking regulations/policies), industry trends, investor sentiment, and macroeconomic factors like inflation, GDP growth, unemployment rates, and currency fluctuations.
Union Bank can be held for the long term, with a stop-loss of Rs. 60, and a target of Rs. 95 in the medium to long term. Considering its 1-year rise from Rs. 36.05 on 10 May, 2022 to Rs. 70.40 on 10 May, 2023, Union Bank does make a compelling case to be held for the long term.