Bank of India Shares Jump on Q3 Earnings

New Delhi, Jan 22 (PTI) Shares of Bank of India jumped nearly 7 per cent to hit their 52-week high on the bourses on Thursday after the state-owned lender reported a 7 per cent rise in December quarter net profit.


The stock climbed 6.93 per cent to Rs 168.40 apiece on the NSE.

On the BSE, the stock advanced by 6.79 per cent to Rs 168.25, also marking its yearly peak.


Following the rally, the bank's market valuation increased by Rs 4,871.35 crore to Rs 76,598.63 crore.

In the mid-session trade, the 30-share BSE Sensex rose 111.96 points, or 0.14 per cent, to 82,021.59, while the broader NSE Nifty went up by 55.10 points, 0.22 per cent to 25,212.60.

Bank of India on Wednesday reported a 7 per cent rise in December quarter net profit at Rs 2,705 crore, helped by a rise in non-core income.

The bank's core net interest income rose 6 per cent on-year to Rs 6,461 crore in the quarter on the back of a 14 per cent growth in advances.