/ Bank Of India Surges 2.5% As Brickwork Reaffirms Bond Ratings ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 1 February 2017

One of the largest PSU Banks, Bank of India, received ratings for its Bonds from the credit rating agency, Brickworks Rating India Pvt. Ltd. The agency revised the ratings outlook from Negative to Stable.

The ratings of innovative perpetual debt instrument of Rs 400 crore; innovative perpetual debt instrument of Rs 325 crore; and Basel III Tier II Bonds of Rs 1500 crore, have been reaffirmed at BWR AA+ but with stable outlook. Ratings of Basel III-Additional Tier I Bonds; and perpetual instruments of Rs 2500 crore; and Rs 1500 crore have been reaffirmed to BWR AA- but with stable outlook.

The stock of Bank of India surged 2.5% at Rs 120. The stock recovered in the afternoon trade after quoting close to its opening price, which was low. Bank of India is currently trading at Rs 120.9, up by Rs 3.25 or 2.76% from its previous closing of Rs 117.65 on the BSE.

The scrip opened at Rs 117.65 and has touched a high and low of Rs 121.4 and Rs 117.5 respectively. So far 4732959(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 12408.49 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 128.75 on 11-Nov-2016 and a 52 week low of Rs 78.6 on 25-May-2016. Last one week high and low of the scrip stood at Rs 123.2 and Rs 113.5 respectively.

The promoters holding in the company stood at 73.72 % while Institutions and Non-Institutions held 18.76 % and 7.52 % respectively. The stock is currently trading above its 100 DMA.

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