Shares of Bank of India tumbled nearly 9 per cent today following deterioration on asset front in the quarter ended June.
The bank's stock tanked 8.75 per cent to close at Rs 94.35 on the BSE. During the day, it slumped 9.33 per cent to Rs 93.75.
On the NSE, shares of the company dived 8.57 per cent to end at Rs 94.40.
The company's market valuation declined Rs 1,577 crore to Rs 16,445 crore on the BSE.
In terms of equity volume, 38.98 lakh shares of the company were traded on the BSE and 3.99 crore shares changed hands on the NSE during the day.
Bank of India has reported over 8 per cent rise in net profit to Rs 95.11 crore in the first quarter ended June 30, 2018-19.
The bank had registered a net profit of Rs 87.71 crore in the April-June period of 2017-18.
Its total income for the first quarter of 2018-19 fell however to Rs 10,842.96 crore, down 2.4 per cent, from Rs 11,106.61 crore in the year-ago period.
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