BLB Ltd, Indo Thai Securities Ltd, Motor & General Finance Ltd and GPT Infraprojects Ltd are among the other losers in the BSE's 'B' group today, 06 March 2020.

United Bank of India crashed 19.92% to Rs 5.99 at 14:36 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 36315 shares in the past one month.

BLB Ltd tumbled 18.69% to Rs 3.61. The stock was the second biggest loser in 'B' group.On the BSE, 20027 shares were traded on the counter so far as against the average daily volumes of 8268 shares in the past one month.

Indo Thai Securities Ltd lost 15.33% to Rs 18.5. The stock was the third biggest loser in 'B' group.On the BSE, 428 shares were traded on the counter so far as against the average daily volumes of 583 shares in the past one month.

Motor & General Finance Ltd fell 13.87% to Rs 27.95. The stock was the fourth biggest loser in 'B' group.On the BSE, 1441 shares were traded on the counter so far as against the average daily volumes of 443 shares in the past one month.

GPT Infraprojects Ltd corrected 12.97% to Rs 25.5. The stock was the fifth biggest loser in 'B' group.On the BSE, 2122 shares were traded on the counter so far as against the average daily volumes of 768 shares in the past one month.

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The Board of United Bank of India at its meeting held on 05 March 2020 has approved the following in respect of amalgamation of United Bank of India (Transferor Bank) into Punjab National Bank (Transferee Bank):

Share Exchange Ratio, subject to statutory and regulatory approvals:
121 equity shares of Rs 2 each of Punjab National Bank for every 1000 equity shares of Rs 10 each of United Bank of India.

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Pre-tax profit of the bank in the December quarter stood at Rs 129.34 crore as against a pre-tax loss of Rs 1584.56 crore in Q3 FY19. Total income rose 4.4% to Rs 2971.38 crore in Q3 FY20 over Q3 FY19.

Net interest income (NII) increased by 116% to Rs 819.43 crore in Q3 FY20 as compared to Rs 380.04 crore recorded in the same quarter last fiscal. Net interest margin (NIM) increased to 2.98% in 03 FY20 from 2% in Q3 FY19.

Cost to income ratio improved to 53.85% in Q3 FY20 as against 66.96% in Q3 FY19.

Gross non-performing assets (NPAs) stood at Rs 11456.79 crore as on 31 December 2019 as against Rs 11544.19 crore as on 30 September 2019 and Rs 14737.61 crore as on 31 December 2018.

The ratio of gross NPAs to gross advances stood at 15.48% as on 31 December 2019 as against 15.51% as on 30 September 2019 and 21.27% as on 31 December 2018.

The ratio of net NPAs to net advances stood at 8.56% as on 31 December 2019 as against 7.88% as on 30 September 2019 and 12.08% as on 31 December 2018.

Provisions and contingencies fell 74.2% to Rs 507.58 crore in Q3 FY20 from Rs 1967.20 crore Q3 FY19.

Provision coverage ratio (PCR) improved to 74.19% as on 31 December 2019 against 65.23% as on 31 December 2018.

United Bank of India is a public sector bank. The Government of India held 97.41% stake in the bank as on 31 December 2019.

Shares of United Bank of India were down 0.23% at Rs 8.71. It has traded in the range of Rs 8.64 and Rs 9.05 so far during the day.

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Net profit of United Bank of India reported to Rs 113.56 crore in the quarter ended December 2019 as against net loss of Rs 1139.25 crore during the previous quarter ended December 2018. Total Operating Income rose 16.57% to Rs 2410.79 crore in the quarter ended December 2019 as against Rs 2068.15 crore during the previous quarter ended December 2018.

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