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Bank of India surges on plans to raise foreign currency loan under MTN programme

31 Jan 2012 Evaluate

Bank of India is currently trading at Rs. 340.00, up by 4.00 points or 1.19% from its previous closing of Rs. 336.00 on the BSE.

The scrip opened at Rs. 340.00 and has touched a high and low of Rs. 344.00 and Rs. 336.50 respectively. So far 19855 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 498.40 on 18-Apr-2011 and a 52 week low of Rs. 261.00 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 365.20 and Rs. 335.00 respectively. The current market cap of the company is Rs. 18662.30 crore.

The promoters holding in the company stood at 65.86% while Institutions and Non-Institutions held 27.10% and 7.05% respectively. 

Public sector lender, Bank of India (BoI) is mulling to raise foreign currency loan under its medium term note (MTN) programme as soon as the global economic situation improves. The state-run lender, which had a MTN programme of raising around $5 billion in 2005, has raised $1.475 billion till now. The bank may now look at other currencies also, except dollar, in order to raise money through MTN programme.

Bank of India reported a rise of 9.64% in its net profit of Rs 716.15 crore for the quarter ended December 31, 2011 as compared to Rs 653.16 crore for the same quarter in the previous year. Total income has increased by 30.85% from Rs 6,115.76 crore for Q3FY11 to Rs 8,002.27 crore in the quarter under review.

The banks’ gross NPA stood at 2.74% for the quarter ended December 31, 2011 as compared to 2.36% in the quarter ended December 31, 2010. Its net NPA also rose at 1.78% in Q3FY12 as compared to 0.88% in Q3FY11. Further, the bank’s Return on Assets (ROA) has declined to 0.80% for the quarter from 0.89% in the similar quarter of the last year.

Bank Of India Share Price

149.80 1.45 (0.98%)
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Peers
Company Name CMP
SBI 1112.15
PNB 114.10
Canara Bank 144.35
Bank Of Baroda 284.10
Union Bank Of India 191.20
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