Bank of India has reduced its base rate, or the minimum lending rate, by 0.05 per cent to 9.65 per cent with effect from September 30. According to the state-owned lender’s regulatory filing, the Bank has reviewed its base rate from 9.70 per cent (existing) to 9.65 per cent, which will come into effect from September 30, 2016. Base rate means all those elements of the lending rate that are common all groups of borrowers. All set of loans are required to be priced only with reference to the base rate. As the base rate is the minimum rate for all loans, banks are not permitted to resort to any lending below the base rate.
Shares in Bank of India, on Wednesday, settled 3 per cent higher at Rs. 120 a piece on the BSE, whose benchmark Sensex index finished up 0.24 per cent.
This morning saw Bank of India share price roll above 0.71 per cent. The stock opened with a rise of 0.85 points at Rs. 121.20 as compared to its previous closing at Rs. 120.00. The stock touched the day’s high and low at Rs. 121.50 and Rs.120.50. Within fifteen minutes after the commencement of today’s trade around 3,62,900 shares changed hands in the counter with a traded value of Rs. 439.11, as per NSE.
The stock touched its 52 week high value at Rs. 149.00 on 9th Oct ’15 whereas the 52 week low is seen at Rs. 78.40 on 25th May ’16.
Bank of India is identified by Dynamic Levels as the top 500 performing stocks for the June quarter amongst the 1700 stocks listed on the NSE. Bank of India is fundamentally strong and is safe for investment, according to Dynamic analysts
In order to know more about the support and resistance levels of the stock and also its fundamentals and financials, please a pay a visit to Bank of India share price history.
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