Shares of Bank of India (BoI) have seen a significant downturn, falling over 20% from their 52-week high in the last three months. However, domestic brokerage firms are maintaining a positive outlook on the public sector bank, citing strong financial results for the March 2026 quarter and projecting an upside potential of up to 25%.
Strong Q4 FY26 Performance Fuels Optimism
Bank of India reported a robust performance for the fourth quarter of the fiscal year 2026. The bank's net profit surged by 17% year-over-year to reach Rs 3,741 crore. Total income also saw a healthy increase of 4.19% YoY, climbing to Rs 22,852 crore, while operating profit stood at Rs 5,081 crore, up 3.34%.
Key highlights from the financial results include:
- Net Profit: Rs 3,741 crore (+17% YoY)
- Total Income: Rs 22,852 crore (+4.19% YoY)
- Operating Profit: Rs 5,081 crore (+3.34% YoY)
- Final Dividend: Rs 4.65 per share
The bank also demonstrated significant improvement in asset quality, with both gross and net non-performing assets (NPAs) declining. The global business expanded by 14.53% year-over-year to Rs 16.98 lakh crore.
Analyst Views and Target Prices
Brokerages remain confident in Bank of India's strategic direction and financial health.
Chola Securities
Chola Securities noted that BoI concluded FY26 with steady growth in deposits, advances, and profit, while maintaining strong asset quality. The brokerage has added BoI to its high-conviction midcap portfolio, anticipating 15-16% global credit growth and 13-14% deposit growth for FY27. The bank's capital adequacy ratio stood at a healthy 18.01%.
Systematix Institutional Equities
Systematix Institutional Equities has issued a 'buy' rating for Bank of India, setting a target price of Rs 175. The firm values the stock at 0.9 times its adjusted book value per share of Rs 206. They expect global Net Interest Margins (NIMs) to improve, driven by a focus on retail, agriculture, and MSME (RAM) and mid-corporate advances, alongside efforts to lower the cost of deposits.
Mirae Asset ShareKhan
Mirae Asset ShareKhan also maintains a 'buy' rating with a target price of Rs 175. They highlighted the bank's strengthening balance sheet and a clear path towards a 1% Return on Assets (RoA). Net advances surged 17% YoY to Rs 7.6 lakh crore, primarily led by the retail, agri, and MSME segments. While acknowledging near-term global uncertainties as a risk, the firm views BoI's attractive valuations and steady earnings growth as key positives.
Ajcon Global Services
Ajcon Global Services emphasized Bank of India's continuous focus on operational efficiency, business expansion, and improved collections. This strategy, coupled with a constructive outlook on asset quality driven by declining SMA levels and stable recoveries, underpins the bank's long-term resilience and profitability.
Current Market Position
Shares of Bank of India recently traded at Rs 144.30, giving the company a total market capitalization close to Rs 66,000 crore. Despite the recent dip, the stock has gained nearly 33% from its 52-week low of Rs 109, recorded in August 2025.