Thursday 6 November 2008

Accumulate Bank Of India: Anagram

Anagram Research has recommended an accumulate rating on Bank Of India (BOI) in its November 6, 2008 research report. "Bank Of India reported phenomenal growth of 79% yoy in its net profit at Rs 763 crore, while 36% growth on sequential basis. This profit is driven by 38% rise in NII and 23% rise in non interest income. Being one of the larger PSU banks, BOI is able to witness strong financial growth driven by improvement in all business parameters. Comfortable level of CASA, acceptable asset slippage level and ROA above 1.5% are the key indicators of consistent performance by the bank. We recommend Accumulate on this stock," says Anagram's research report.

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Source: Moneycontrol

Posted by Harsh at 08:11

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