NSE Symbol: BANKINDIA | BSE Code: 532149
Bank of India Share Price Performance
Bank of India Stock Trends - 2018
In January 2018, the Bank of India share price opened at Rs.176, which began to fall eventually and reached Rs.161 on the 31st of the month.
The downward trend continued throughout February as the stocks saw slow movement. The price dropped to Rs.125 in this month.
In March, the share price slipped below Rs.100 and reached Rs.97.70 as the stocks of public sector banks did not show significant gains in the market.
In the initial days of April, the prices picked up the pace and went up to Rs.113.20 due to favorable market conditions.
The prices improved a bit in May but drastically fell below Rs.100 on the 18th. However, ten days later it was around Rs.103.05.
In the beginning of June, PSU stocks incurred losses and the BOI share price was around Rs.99 per stock, which further fell to Rs.94.50 within the first week. After substantial fluctuation throughout the month, the share prices fell to Rs.87.70 due to unfavorable market conditions.
The price fell further to Rs.82 on in mid-July due to various market-related factors. Due to several changes such as low factory growth in China and drop in oil prices, a slight improvement was noticed, but the stocks closed at Rs.103.50 on the 31st of the month.
In August, the Bank of India share price opened at Rs.94.60 and hovered below the Rs.100 mark throughout the month.
The stock suffered a harder blow in September as it consistently dropped and reached Rs.76.90 by the end of the month.
Bank of India Stock Trends - 2016 and 2017
In January 2016, the BOI stock was priced at Rs.114.90, which fell to Rs.93 by the 19th. It slightly rose to Rs.101.45 in the beginning of February but fell to Rs.84.10. The prices picked up the pace slightly in March but didn't rise above Rs.100 mark.
In April 2016, the cost per share started at Rs.96.80 and reached Rs.99.20 by the 5th. However, it fell drastically in May and dropped to Rs.79.95. It recovered again in June and went up to Rs.100.65 but BOI reported a loss in this quarter.
An inclining trend was observed in July when the prices soared up to Rs.114.70 without major fluctuations seen in the month. The steadily rising trend continued throughout August and September and the stock reached Rs.124 in September.
The price hovered above Rs.100 in October, shot up to Rs.126.60 in November and fell again to Rs.106.30 when the year ended.
January started off with the BOI share price at Rs.107.75, which reached Rs.120 by the end of the month. It further rose to Rs.133.80 and remained there steadily throughout March.
In April, the stock dramatically rose to Rs.174. Due to an announcement declaring a change in the directorate, the stock further increased to Rs.192.55 in May. However, the prices majorly fluctuated in June and the quarter closed with the stock at around Rs.160.
In August, the Bank of India share price fell to Rs.140.75, which went ahead into September to take a huge hit in September. October began on a dull note but went up to Rs.191. It surged to Rs.213 in November, but soon fell and closed the year at Rs.196.20.
Bank of India Company Information and Brief History
A group of businessmen established Bank of India (BOI) on September 7th, 1906. It is headquartered in Mumbai. It initially ran under private ownership and was nationalized in 1969 along with 13 other Indian banks. BOI was first set up in Mumbai; it had a paid-up capital of approximately Rs.50 lakh and around 50 employees. It was one among the first banks that embraced innovative financial practices. In 1982, Bank of India headed the way for the Health Code System which is used to evaluate and rate credit portfolios. In 1989, BOI was one of the first nationalized banks in the country to set up a completely computerized branch equipped with an ATM. This was at its Mumbai-based Mahalaxmi Branch. In 1997, the bank went ahead to make its public issue. Bank of India has immensely expanded over the years and has a good national and international presence. They have over five thousand branches in India and more than 20 overseas branches in countries like Singapore, Japan, the US and the UK. The market capitalization of Bank of India, as of August 2018, was a little more than Rs.16802.31 crore. Bank of India share price fluctuates at every moment and thus it is very important for all potential investors to keenly study the performance of the company’s shares before investing in it.
Wealth and Recent Performance
In March 2018, BOI's total business in the domestic market increased by 0.78%, standing at Rs.714712 cr, as compared to the previous year’s value of Rs.709183 cr.
The Current and Savings Account (CASA) ratio of BOI increased by 3.71% on a y-o-y basis and was at Rs.172787 cr. Moreover, BOI also witnessed an increase in the number of deposits in savings accounts by 2.86% and in current accounts by 8.86%.
The share of low-cost domestic deposits had a rise from 39.84% to 41.43%.
BOI's total number of deposits amounted to Rs.421211 cr, which fell by 0.53%. Advances were at a value of Rs.293500 cr, which was an increase of 2.72%.
The retail credit value was at Rs.47817 cr, which indicated an increase by 19.25% over the previous year’s value of Rs.40098 cr.
BOI's total operating profit 2018 was reported at Rs.7139 cr and the net loss amounted to Rs.6044 crore.
The capital adequacy ratio of BOI was at 12.94% as compared to the rate of 10.87% as prescribed by the Reserve Bank of India (RBI).
The net worth of BOI (as of March 31, 2018) stood at Rs.18992 cr, which was a decline of 4.60% when compared to the previous term.
In the overseas business, BOI recorded a value of Rs.182138 cr in March 2018, which was a de-growth of 18.92% over the value of Rs.224637 cr recorded in March 2017.
The gross Non-Performing Asset ratio of BOI for the FY 2017-18 was 16.68% and the net NPA was 8.26%.
During the 1st half of 2018, Bank of India raised capital of Rs.9232 cr by issuing fresh shares.
Is Investing in BOI a Good Idea?
Bank of India has introduced several novel and innovative products and services like ATM cards with modern technology and convenience, a fool-proof and efficient fraud prevention system, and various other technologically driven practices.
They have a robust mobile banking facility in place, through which customers can avail banking services from anywhere and at any time.
Banking stocks are usually considered a comparatively safe investment option that can throw up good opportunities for the creation of wealth. However, the quality of the asset is an important factor that should be assessed before making a purchase decision. The stock does not seem very impressive at the moment but may present attractive growth opportunities in the future.
One must patiently observe the performance of the stocks and monitor the BOI share price for a considerable time before deciding to invest in it.