Views on Bank of India 4QFY2015 Results - Angel Broking

Views of Mr. Vaibhav Agrawal (VP Research - Banking, Angel Broking) on Bank of India 4QFY2015 Results:

"Bank of India reported 4QFY2015 results with loss of INR 56.1cr, despite tax write back in the quarter. Advances grew by 8.4% yoy, while Net interest income de-grew by 6.6% yoy. Other income grew by 22.8% yoy, leading to operating income growth of 0.2% yoy. PCR dipped to 52.4% as compared to 56.6% in 3QFY2015. On asset quality front, Gross NPA ratio went up by 132bp to 5.39% as on 4QFY2015, while Net NPA came in at 3.36% as compared to 2.5% in 3QFY2015. At CMP, stock is trading at 0.4x FY2017E ABV. Currently we have kept the rating for the stock under review."

Shares of BANK OF INDIA was last trading in BSE at Rs.181.15 as compared to the previous close of Rs. 183.25. The total number of shares traded during the day was 510824 in over 6342 trades.

The stock hit an intraday high of Rs. 183.55 and intraday low of 179.2. The net turnover during the day was Rs. 92673215.

Source : Equity Bulls

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