HDFC Bank Shares Dip After Q3 Update, Union Bank Hits 52-Week High

• HDFC Bank shares fell over 2% on January 5, becoming the biggest loser on Nifty and Sensex after its December quarter business update.
• Union Bank of India shares surged, hitting a new 52-week high of Rs 162.99, though it later pared some gains.
• HDFC Bank reported 9% YoY growth in Average Advances Under Management (Rs 28.64 lakh crore) and 12.2% in Average Deposits (Rs 27.52 lakh crore).
• Union Bank's Gross Advances grew 7.13% YoY to Rs 10.17 lakh crore, with Deposits up 3.36% to Rs 12.23 lakh crore.
• Both banks released provisional business updates; HDFC Bank's full Q3 results are still awaited.

Why It Matters: HDFC Bank shares dropped post-Q3 business update, while Union Bank of India's stock soared to a 52-week high.