Bank of India Shares Surge to New Heights

Shares of Bank of India jumped nearly 7% to reach a 52-week high after the bank posted a 7% rise in December quarter net profit, enhancing its market valuation by Rs 4,871.35 crore. This surge followed a notable increase in non-core income and a rise in net interest income.

Shares of Bank of India experienced a significant surge, jumping almost 7% and reaching their highest point in 52 weeks. The leap followed the bank's announcement of a 7% increase in net profit for the December quarter, which bolstered its market valuation by Rs 4,871.35 crore.

On the trading floors, the stock made notable gains, climbing to Rs 168.40 per share on the National Stock Exchange and marking a similar peak on the Bombay Stock Exchange at Rs 168.25 per share.

This upward trajectory was supported by non-core income growth and a 6% boost in net interest income, driven by a 14% increase in advances. Additionally, key indices such as the BSE Sensex and NSE Nifty reflected positive momentum, maintaining gains during the mid-session trade.

(With inputs from agencies.)