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Bank of India hits 17-month high on positive outlook; zooms 80% in 6 weeks

Rating agency Acuite Ratings & Research reaffirmed its rating of AA, revising the outlook to positive from stable for the bank's additional tier-1 bonds

Among the first to exit PCA in February 2019, BOI has significantly reduced its gross non-performing assets (NPA) from 16.3 per cent in Q3 FY20 to 13.3 per cent in December quarter
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Among the first to exit PCA in February 2019, BOI has significantly reduced its gross non-performing assets (NPA) from 16.3 per cent in Q3 FY20 to 13.3 per cent in December quarter

SI Reporter Mumbai
Shares of Bank of India rallied 5 per cent to hit a 17-month high of Rs 83.25 on the BSE in Thursday’s intra-day trade on a positive outlook. The stock of the state-owned lender was quoting at its highest level since June 2021.

In the past six weeks, it has zoomed 80 per cent from a level of Rs 46.30 touched on October 13, 2021. 

Bank of India on Wednesday, November 23, said that rating agency Acuite Ratings & Research reaffirmed its rating of AA, revising the outlook to positive from stable for the bank’s additional tier-1 bonds.

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First Published: Nov 24 2022 | 12:06 PM IST

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