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Why did Bank of India shares crash 11% today?
short by Pragya Swastik / on Monday, 13 May, 2024
State-run Bank of India's (BOI) shares crashed 11% after its margins contracted by 23 basis points year-on-year in Q4. The bank's slippages reportedly increased to more than ₹2,000 crore in Q4FY24 as against ₹1,313 crore in Q3FY24. Slippages denote fresh loans that turned into bad loans. Morgan Stanley analysts shared an 'overweight' rating for the stock after the Q4 results.
read more at Moneycontrol