Union Bank Shares Soar 8% on Strong Q3 Results, Asset Quality Boost

• Union Bank of India shares surged by up to 8% after announcing its Q3 results.
• The bank's asset quality significantly improved, with slippage decreasing to ₹1,853 crore from ₹2,151 crore.
• Gross NPA fell from 3.29% to 3.06%, and Net NPA dropped from 0.55% to 0.51% sequentially.
• Net profit increased by 9% year-on-year to ₹5,017 crore, while Net Interest Income grew 1% to ₹9,328 crore.
• The stock hit a record high of ₹180 and has delivered a 70% return over the past year.

Why It Matters: Union Bank of India's strong Q3 performance, driven by improved asset quality, led to an 8% stock surge.