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19-Aug2016

Bank of India gains on plan to raise Rs 540 crore more from non-core asset sale

Bank of India is currently trading at Rs 113.45, up by 0.95 points or 0.84% from its previous closing of Rs. 112.50 on the BSE.

The scrip opened at Rs. 112.90 and has touched a high and low of Rs. 114.00 and Rs. 112.55 respectively. So far 337898 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 179.00 on 20-Aug-2015 and a 52 week low of Rs. 78.60 on 25-May-2016.

Last one week high and low of the scrip stood at Rs. 115.40 and Rs. 111.00 respectively. The current market cap of the company is Rs. 10596.63 crore.

The promoters holding in the company stood at 70.32%, while Institutions and Non-Institutions held 21.18% and 8.50% respectively.

In order to increase capital base, state-run Bank of India has raised Rs 540 crore through monetisation of its non-core assets so far in 2016-17 and is planning to raise a similar amount in the rest of the year.

In June, the bank had raised Rs 540 crore by selling 18 per cent stake in life insurance joint venture with Dai-ichi and Union Bank of India to the Japanese firm.

Bank of India offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc. The bank has 4963 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 54 Zonal Offices.


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