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

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.