FORWARDED MESSAGE
*Biggest Trigger: Bank of India*
BOI exposure to Essar Steel is 1985 Cr and BOI had made 100% provision against same
With NCLT resolution, BOI will get 1985 Cr and this ENTIRE amount will reflect in it's P&L A/C. Thus Q3 NP of BOI can be record 2500 Cr or so Vs 4737 Cr Loss YoY
Moreover, *Nnpa of 5.87% will come below 5%*
Further, BOI selling it's stake in BSE NSDL which will fetch another 3000 Cr
Capital base of BOI will be considerably strengthened
FY20 TO BE LANDMARK YEAR FOR BOI
TP Rs 83 Nov Expiry
TP Rs 110 in 4-6 months