Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Oct - Intimation of Analyst/Investor Meet for Financial Results for September,2026
Source: Bse
Bank of India (BANKINDIA)
Large CapFinancial Services stocks · Large cap · NSE
Bank of India (BOI) is an Indian public sector bank providing a wide range of banking and financial services. It operates domestically and internationally, focusing on retail, agriculture, and MSME (RAM) segments, alongside corporate lending. The bank is actively pursuing digital transformation and financial inclusion initiatives.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result24 Jul, 10:28 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
42NeutralSMA20 -5.6% / mo · MACD +
Stock trend: 41
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
BANKINDIAD candles · FIT view-7.2%Latest close ₹136.78 on 2026-10-19
Bar
+2.7%
RSI
53
MACD hist
0.49
52W pos
19%
2026-10-19O ₹133.16H ₹137.33L ₹132.83C ₹136.78Vol 1.5Cr sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BANKINDIANifty Financial ServicesNifty 500
- BANKINDIA
- -6.9%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -1.3 pp
Chart stats
19 Oct 2026- From 52W high
- -23.3%
- 52W range position
- 26%
- ATR (14)
- 2.6%
- Volume vs 20D
- 2.27x
- Avg traded value
- ₹92.7 Cr
- 20D price channel
- ₹126.7 - ₹139.7
₹178.4
₹122.2 - ₹178.4
₹3.6
Latest completed session
20-session average
32.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · UNDERVALUED72
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good65
Revenue +8.8% · PAT +80.5% YoY
Technical
Neutral42
Price trend and sector-relative-strength timing.
Valuation
Legacy model+79.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence75
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 65/100Rev +9% YoY · PAT +80% YoY · operating leverage
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹20,097 Cr | +8.8% | +2.7% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹3,304 Cr | +80.5% | +7.0% |
| PAT margin | 16.4% | +653 bps | +66 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 5.04
- P/B
- 0.65
- EV/EBITDA
- —
- Market Cap
- 59367.00Cr
Profitability
- ROE
- 12.40%
- ROCE
- 5.93%
- ROA
- 1.00%
- Dividend Y
- 3.57%
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 39.00%
- Revenue 3Y
- 16.00%
- EPS 3Y
- 42.00%
Balance Sheet
- Debt/Equity
- 0.13
- Interest Coverage
- —
- Altman Z
- 1.54
- Book Value
- 200.00
Cash Flow
- FCF Yield
- 7.45%
- FCF Positive Y
- 5/5
- OCF
- 4753.00 Cr
- EPS TTM
- 25.87
Shareholding
- Promoter Hold
- 73.38%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 14%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 20.1k+2.7% vs prev
Net Profit
₹ CrLatest: 3,304+7.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 53. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~6.0% over last month) — short-term momentum negative.
- RSI(14) at 53 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 23% off 52W high · 8% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
53
RS percentile
Stage 4 Downtrend
1M return
-2.3%
3M return
-6.9%
6M return
-10.6%
1Y return
-3.1%
RS 1D
+6
RS 20D
-4
Sector rank
#9
Industry rank
#9
Stage evidence
- Price is 3.5% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.6%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 121.16+4.41%
RS vs Nifty 500121
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation30/30
Growth20/25
Quality2/20
Balance Sheet8/15
Cash Flow8/10
Piotroski
5/9 (+3)
Penalties
1
Raw sum
72
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
72/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 7.5%.
- Fair-value margin of safety is positive at 79.3%.
- Valuation contributes 30/30 to the score.
Main drags
- Altman Z is 1.5, in distress territory.
- Quality is weaker at 2/20; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Bank valuation: P/B adjusted for ROE and asset quality
Banks are balance-sheet businesses, so book value quality matters more than simple earnings multiples.
Primary lens
Price/book and ROE/ROA, not trailing PE alone.
Secondary checks
Capital adequacy, credit cost, NPA trend, deposit franchise.
Main risk check
Low P/B can be a trap if asset quality or credit cost is worsening.
PE
5.0
PB
0.7
EV/EBITDA
—
ROE
12.4%
ROCE
5.9%
FCF Yield
7.5%
Debt/Equity
0.1
MoS
+79.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
72
Previous: 72
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+79.3%
Previous: +79.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
71
71
71
71
71
71
71
72
72
72
72
72
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹341.2
+59.9% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹659.69
+79.3% MoS
PEG
0.13
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
IOB
Large
Indian Overseas Bank
Banking
match 167
64
10.1
15.6%
+61%
UNDERVALUED
MAHABANK
Large
Bank of Maharashtra
Banking
match 167
64
8.5
22.6%
+68%
UNDERVALUED
CENTRALBK
Large
Central Bank of India
Banking
match 162
68
6.2
11.9%
+76%
UNDERVALUED
UCOBANK
Large
UCO Bank
Banking
match 162
57
10.0
8.5%
+68%
FAIR VALUE
UNIONBANK
Large
Union Bank of India
Banking
match 155
63
6.4
15.7%
+75%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-14T07:10:29.465Z
Management commentary snapshot
Bank of India reported robust FY26 performance with global advances up 15.82% and net profit up 14.85% YoY. Asset quality significantly improved, with Gross NPA at 1.98% and Net NPA at 0.56%. However, Net Interest Margin (NIM) compressed to 2.52% from 2.82% in FY25.
The bank demonstrated strong business growth, particularly in RAM segments, and notable asset quality improvement. The declining NIM and CASA ratio warrant close monitoring, but overall performance indicates a positive trajectory driven by strategic focus on retail and digital initiatives.
Current business mix
Retail Loans Composition as on 31.03.2026
Latest issuer-disclosed distribution across 6 reported categories.
Home loans49.0%
Vehicle loans15.0%
Education loans3.0%
Mortgage loans10.0%
Personal loans8.0%
Others15.0%
Growth engines
Retail Advances Growth
Retail advances grew by 21.19% YoY to Rs 1,62,025 Cr as on 31.03.2026.
Agriculture Advances Growth
Agriculture advances grew by 17.60% YoY to Rs 1,15,642 Cr as on 31.03.2026.
MSME Advances Growth
MSME advances grew by 17.68% YoY to Rs 1,06,660 Cr as on 31.03.2026.
Digital Lending Platform
Digital Lending Platform's sanction value grew by 87% YoY to Rs 1.28 Lakh Cr in FY26, with 28.6 Lakh loans (+24% YoY).
Capacity and execution
Domestic Branch Network Expansion
Increased domestic branches to 5,511 as on 31.03.2026 from 5,304 as on 31.03.2025.
Business Correspondent (BC) Network Expansion
Increased BCs to 25,053 as on 31.03.2026 from 23,281 as on 31.03.2025.
Tier II Capital Raise
Raised ₹2500 Crores through Tier II Bonds on 12.12.2025.
Digital Lending Product Expansion
50 products (32 Assisted + 18 Self-serve) are now live on the Digital Lending Platform.
Tailwinds
Strong Asset Quality Improvement
Gross NPA decreased by 129 bps and Net NPA by 26 bps YoY, indicating effective bad loan management.
Digital Transformation Initiatives
Increased UPI users (271 lakhs), Mobile Banking users (131 lakhs), and significant growth in digitally generated business volumes and values.
Green Finance and Deposits
Raised ₹963 Cr in Green Deposits in FY26 and green finance exposure crossed ₹14,000 Cr, supporting sustainable growth.
Headwinds
Net Interest Margin (NIM) Compression
NIM declined to 2.52% in FY26 from 2.82% in FY25, indicating pressure on profitability from core lending activities.
Decline in CASA Ratio
Domestic CASA % decreased to 37.64% as on 31.03.2026 from 40.29% as on 31.03.2025, potentially increasing cost of funds.
Lower Profit from Investments
Profit from Sale and Revaluation of Investments decreased by 91% YoY in QE Mar 26 and 11% YoY for FY26.
Risk radar
Concentration in Agriculture and MSME NPAs
Agriculture and MSME sectors collectively account for 82% of total global Gross NPA as on 31.03.2026.
Unrated Corporate Advances
Unrated accounts constitute 6.30% of the Standard Corporate Advances portfolio as on 31.03.2026.
SMA-2 Accounts in Corporate Segment
Corporate sector had Rs 27 Cr in SMA-2 accounts as on 31.03.2026, indicating potential future slippages.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are crucial for financial services. YoY provides a clear view of annual trends and overall business growth, while QoQ highlights recent momentum, asset quality shifts, and sequential operational efficiency.
Sector KPIs management disclosed
Global Advances Growth (YoY)
Global Advances grew by 15.82% YoY to Rs 7,71,391 Cr as on 31.03.2026.
Global Deposits Growth (YoY)
Global Deposits grew by 13.56% YoY to Rs 9,27,271 Cr as on 31.03.2026.
RAM Advances Growth (YoY)
RAM (Retail, Agriculture, MSME) advances grew by 19.11% YoY to Rs 3,84,327 Cr as on 31.03.2026.
Net Interest Margin (NIM)
Net Interest Margin (NIM) was 2.52% for FY26, down from 2.82% in FY25.
Management forward view
Focus on Digital Transformation
Management is redefining API framework, building fintech partnerships, and automating manual tasks to enhance digital offerings.
Human Resource Development
Project StarLIGHT aims to link business strategy with HR, drive employee engagement, and build a strong learning culture.
Commitment to Exponential Growth
Management expressed gratitude to stakeholders and solicited continued patronage to make the Bank grow exponentially in the coming years.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Interest Margin (NIM) | 2.52% (FY26) | Stabilization or improvement in NIM to support core profitability. |
| RAM Advances Growth | 19.11% (FY26) | Sustained growth momentum in the high-yielding Retail, Agriculture, and MSME segments. |
| Asset Quality (GNPA/NNPA) | GNPA 1.98%, NNPA 0.56% (FY26) | Continued reduction in bad loans, particularly in Agriculture and MSME sectors. |
| CASA Ratio | 37.64% (31.03.26) | Stabilization or improvement in CASA ratio to manage the cost of funds effectively. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
75Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 78th percentile of the scored universe and 88th percentile within Financial Services. Main check: balance sheet trust is weak at 55/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
122 docs text-extracted · 38 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
78th percentile
overall median 67 · Financial Services: 88th pctile, median 62 · Large: 59th pctile, median 73
Evidence depth
Financial-only
122 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
55
watch · leverage and solvency
Discipline
56
watch · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 73.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 7.5%.
- ▸5 years of positive FCF.
Trust risks
- ▸Altman Z is 1.54.
- ▸ROCE is low at 5.9%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Bank of India
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Oct - Bank of India has informed about copy of Newspaper Publication- Special Window for Relodgement of Transfer Requests of Physical Shares.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Interest Rates Updates 29 Sep - Bank of India kept MCLR and RBLR unchanged from 01.10.2026; fixed rate spread changed.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 18 Sep - Bank of India held a virtual one-on-one investor meeting with Schonfeld Strategic Advisors; no UPSI shared.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 15 Sep - Bank of India held a one-to-one physical meeting with Phillip Capital; no UPSI shared.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 10 Sep - Bank of India executives held a non-deal roadshow for institutional investors in Singapore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 9 Sep - Bank of India executives held a non-deal roadshow with institutional investors in Hong Kong.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 8 Sep - S&P assigned Bank of India BBB long-term and A-2 short-term ratings; outlook stable.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 14 Aug - Infomerics reaffirmed Bank of India Tier-II bonds rating AAA with stable outlook on 14-08-2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20 Jul - Notice of Bank''s Earnings call with Analysts and Investors Unaudited (Reviewed) Financial Results for the 1st Quarter ended 30 the June, 2026
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 17 Jul - ICRA assigned Bank of India issuer rating AA+ Stable and reaffirmed Tier II bonds AA+.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.