Hot Chips - Bank of India

BSE CODE: 532149
Volume: 393906
CMP: 209.30

Last week’s rally in the markets was primarily led by the bankex index where market price of most of the stocks shot up significantly. And amongst all the banks, private banks' stocks recorded the highest rise. However, there were certain stocks that under-performed the bankex index and Bank of India is one such stock. However, the counter is expected to bounce back. The counter, has seen an incremental increase in the volumes. However, there hasn’t been any noticeable change in the market price of the stock. As per a broker the counter can be considered with long-term investment perspective. The counter has witnessed decent build up in the F&O segment. A derivative strategist of a leading brokerage house has given a buy call with the price target of 15-20 per cent on the CMP. The bank has one of the highest returns on equities in FY08. In Q3FY09, this PSB has been able to perk up its financial performance. Thus investors with medium to long-term perspective can add the scrip to their portfolio.