Bank of India up on growth in quarterly deposits, advances

Bank Of India

11/01/2024 04:18

** Shares of Bank of India  BOI.NS  up 2%
    ** Stock hit intraday high of 3% earlier in the session 
    ** State-owned lender says provisional global total deposits
as of Dec. 31 up 8.66% Y/Y; global gross advances up 11.49% Y/Y 
    ** BOI's intraday high best since Dec. 11, when shares rose
more than 4% on its 45 bln rupees Qualified Institutional
Placement (QIP) issue being oversubscribed by 4.11 times
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since Dec 2023
    ** About 7 mln shares traded as of 9:45 a.m. IST, less than
a quarter of 30-day avg of 29.3 mln shares 
    ** Stock gained about 28% in 2023, posting a third straight
year of gains vs a 32% rise in Nifty public sector banks index
 .NIFTYPSU  


 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))