CLSA retains sell on Bank of India, target price Rs 60
Sell Bank of India at a price target of Rs 60.0 .
For the quarter ended 30-09-2019, the bank has reported a consolidated interest income of Rs 7380.80 crore, up 5.95% from last quarter's interest income of Rs 6966.39 crore. The bank has reported net profit after tax of Rs 278.41 crore in the latest quarter.
Profit in the second quarter was less than expected on higher provisions, said CLSA. The brokerage is cautious on the stock on low core profitability and weak asset quality position.