May 15, 2019 / 4:17 AM / 7 days ago

BUZZ-India's Union Bank falls on widening Q4 net loss

** Shares of Union Bank of India fall as much as 7.4% to 73.45 rupees

** Majority state-owned lender posted March-qtr loss of 33.69 bln rupees ($14.2 mln) on Tuesday, while provisions for non-performing assets rose by 2.6%

** Co’s forward PE of 19.96 is above than sector avg of 18.31

** About 6.6 mln shares change hands in early trading hours, compared with 30-day average of ~9.2 mln shares

** In comparison, peers State Bank of India has forward PE of 54.47 and Bank of India Ltd at -3.28

** Up to Tuesday’s close, stock had fallen 7.7% this year ($1 = 70.2625 Indian rupees)

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