Buy Bank Of India With Short Term Target Of Rs 464

Buy Bank Of India With Short Term Target Of Rs 464Technical analyst Simi Bhaumik has maintained 'buy' rating on Bank of India stock with a short-term target of Rs 464.

The analyst said that the stock can be purchased with a stop loss of Rs 449.

The stock of the company, on December 21, closed at Rs 451.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 588 and a low of Rs 310.05 on BSE.

Current EPS & P/E ratio stood at 41.42 and 10.92 respectively.

For the quarter ended September 2010, Bank of India (BOI) declared a growth in standalone net profit.

During July-Sep period, the company's profit surged 1.90 times to Rs 6,167.80 million as compared to Rs 3,233.40 million during the corresponding quarter previous year.

The company's total income has zoomed to Rs 57,400.50 million during the quarter as against Rs 51,649.60 million for the same period of last year.

Set up in the year 1906, Bank of India owns 3101 divisions in the country spread over all states/UT's comprising 141 specialized divisions.

Bank of India appeared with its first public issue in the year 1997 and follow on QIP in February 2008.