The Union Bank stock rose 6.66 per cent to hit a high of Rs 150.50 on BSE. The multibagger stock is up 22.35 per cent year-to-date and 112.66 per cent in the last one year.
Union Bank has gained amid its recent effective attempt to boost capital via a fruitful QIP, leading to an improving return profile; relatively cheap valuations have led to sharp gains, Emkay Global said.