Union Bank of India Increases Stake in Joint Venture ASREC (I) Ltd
Union Bank of India has significantly increased its investment stake in ASREC (I) Ltd., which operates as a joint venture company of the Bank. The institution announced an additional investment totaling ₹ 22.64 Crores in the company.The strategic investment by Union Bank of India has led to a notable rise in the Bank's shareholding percentage in ASREC (I) Ltd.
The details of the shareholding change are as follows:
| Metric | Previous Shareholding | New Shareholding |
|---|---|---|
| Bank's Stake in ASREC (I) Ltd. | 26.02% | 27.30% |
The infusion of the additional ₹ 22.64 Crores positions Union Bank of India with a strengthened stake in ASREC (I) Ltd., further solidifying its role in the joint venture company.
UNIONBANK Stock Price Movement
On Tuesday, Union Bank of India shares slipped by 0.74% to settle at ₹162.19, shedding ₹1.22 from the previous close. Trading volume was robust, with 11.41 million shares contributing to the day's session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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