Bank Of India Stock Tumbles Nearly 7% After Multiple Large Trades
The buyers and sellers for trades involving 0.3% equity were not known immediately.
Shares of Bank of India tumbled nearly 7% after multiple large trades on Wednesday.
The company saw 0.3% equity change hands in multiple large trades at Rs 109.80 apiece, according to Bloomberg data. The buyers and sellers were not known immediately.
On the NSE, BoI's stock fell as much as 6.48% during the day to Rs 108.20 apiece, the lowest since Oct. 23 when it fell over 9%. The shares were trading 4.11% lower at Rs 110.95 apiece compared to a 0.42% advance in the benchmark Nifty 50 at 11:24 a.m.
The stock has risen 25.72% on a year-to-date basis. The total traded volume so far in the day stood at 18 times its 30-day average.
Four out of the five analysts tracking BoI maintain a 'buy' rating on the stock and one recommends 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 17.6%.
