Shares of Bank of India (BOI) today rose by nearly 4 per cent after the company swung into black by registering a standalone net profit of Rs 87.71 crore for the first quarter ended June.
The stock gained 3.77 per cent to settle at Rs 158.45 on BSE. During the day, it soared 7 per cent to Rs 163.40.
On NSE, it jumped 3.86 per cent to close at Rs 158.45.
In terms of equity volume, 20.82 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.
The bank had reported a net loss of Rs 741.36 crore in the April-June quarter of previous fiscal due to bad assets and higher provisioning to cover it.
The bank improved on its asset front with gross non- performing assets falling to 13.05 per cent of the gross advances as on June 30, 2017 from 13.38 per cent at the end- June 2016.
Net NPAs or bad loans also fell to 6.70 per cent of the net advances by June end this year, as against 7.78 per cent a year ago.
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