Bank of India at more than 5-year high after QIP oversubscribed

Bank Of India

11/12/2023 07:07

** Shares of Bank of India  BOI.NS  up 4.8% to 119 rupees,
their highest since Feb. 27, 2018
    ** BOI's 45 billion rupees Qualified Institutional Placement
(QIP) issue was oversubscribed by 4.11 times
    ** Allottees in QIP include SBI Mutual Fund, Societe
Generale - ODI, Morgan Stanley Asia (Singapore) PTE, HDFC Life
Insurance and ICICI Prudential Life Insurance
    ** Stock above 50-, 100-, and 200- day moving avgs since
Dec. 1
    ** More than 22 mln shares traded, 1.8x their 30-day avg
    ** Day's spike pushes YTD gains to 35%, beating a 29% growth
in the Nifty PSU Bank Index  .NIFTYPSU  in the year

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))