Bank of India (BANKINDIA) — share price & stock analysis
Bad loans have fallen from 7.3% to 2.3%, profits are compounding — and the market still prices it below its own book value.
Bank of India (BANKINDIA) trades at ₹142 as of 1 July 2026, up 20% over the past year — beating NIFTY 500 for 48 weeks. The machine reads this as turnaround: bad loans have fallen from 7.3% to 2.3%, profits are compounding — and the market still prices it below its own book value. the price is in Stage 2 — advancing, 42 weeks in; the business cycle reads DEEP CYCLICAL / EXPANSION. Fundamentals-momentum score: 100/100 (all improving).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹64,484 Cr
- P/BV
- 0.72×
- ROE
- 12.4%
- Book value / share
- ₹198
- Revenue (FY26)
- ₹75,613 Cr
- Profit after tax (FY26)
- ₹10,309 Cr
- Weinstein stage
- Stage 2 (42 weeks)
- Data as of
- 1 July 2026
Profits swing violently in this business — real losses in FY16 and FY17 and FY18 and FY19 and FY20. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are mid-band, and valuation history is thin. That reads as EXPANSION — the comfortable middle — the easy money off the bottom is made; from here the story has to keep delivering.net_profit
5 of the 5 things we track are currently moving the right way — nearly everything is pulling in the same direction.
Where the levels actually stand: ROE 12% — below what a bank must earn to create value; GNPA 2.3% — workable, not pristine; the spread is mid-band vs its own history. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, lending and bad loans count double.
An uptrend that has held for 42 weeks
STAGE 2 · ADVANCING · 42 WEEKSEvery stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 2: advancing, 42 weeks in.stage
The price sits above its rising 200-day average (₹142 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
Beating NIFTY 500 for 48 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Feb 16 | 83.7 | 141 | 99.4 | 4 |
| May 16 | 81.3 | 121 | 91.2 | 4 |
| Aug 16 | 114 | 112 | 105 | 4 |
| Nov 16 | 106 | 114 | 113 | 1 |
| Jan 17 | 117 | 114 | 113 | 3 |
| Apr 17 | 150 | 122 | 135 | 2 |
| Jul 17 | 147 | 135 | 145 | 2 |
| Oct 17 | 142 | 141 | 146 | 2 |
| Dec 17 | 170 | 158 | 178 | 2 |
| Mar 18 | 97.5 | 148 | 128 | 4 |
| Jun 18 | 98.5 | 128 | 104 | 4 |
| Sep 18 | 94.2 | 112 | 94.2 | 4 |
| Nov 18 | 84.8 | 99.9 | 84.8 | 4 |
| Feb 19 | 83.0 | 97.1 | 91.0 | 4 |
| May 19 | 81.7 | 95.2 | 91.0 | 4 |
| Aug 19 | 68.0 | 90.1 | 80.9 | 4 |
| Nov 19 | 71.0 | 79.9 | 67.2 | 4 |
| Jan 20 | 67.7 | 75.6 | 69.3 | 4 |
| Apr 20 | 34.1 | 63.2 | 44.1 | 4 |
| Jul 20 | 49.3 | 53.6 | 44.7 | 4 |
| Oct 20 | 40.9 | 50.5 | 45.5 | 4 |
| Dec 20 | 48.9 | 47.8 | 46.1 | 4 |
| Mar 21 | 66.7 | 55.5 | 67.5 | 2 |
| Jun 21 | 80.4 | 62.9 | 74.2 | 2 |
| Sep 21 | 59.3 | 66.6 | 69.5 | 2 |
| Nov 21 | 56.7 | 63.4 | 60.6 | 4 |
| Feb 22 | 52.5 | 59.2 | 54.9 | 4 |
| May 22 | 42.1 | 54.4 | 48.3 | 4 |
| Aug 22 | 48.8 | 50.8 | 47.0 | 4 |
| Oct 22 | 58.7 | 50.5 | 50.0 | 4 |
| Jan 23 | 90.2 | 66.5 | 85.7 | 2 |
| Apr 23 | 77.0 | 70.4 | 76.4 | 2 |
| Jul 23 | 79.8 | 73.1 | 75.9 | 2 |
| Sep 23 | 109 | 81.4 | 94.4 | 2 |
| Dec 23 | 112 | 92.2 | 107 | 2 |
| Mar 24 | 134 | 110 | 133 | 2 |
| Jun 24 | 121 | 121 | 132 | 2 |
| Aug 24 | 118 | 121 | 121 | 3 |
| Nov 24 | 103 | 115 | 108 | 4 |
| Feb 25 | 99.3 | 111 | 105 | 4 |
| May 25 | 110 | 109 | 109 | 4 |
| Aug 25 | 109 | 113 | 115 | 2 |
| Oct 25 | 134 | 116 | 122 | 2 |
| Jan 26 | 157 | 128 | 143 | 2 |
| Apr 26 | 148 | 141 | 152 | 2 |
| Jun 26 | 147 | 142 | 145 | 2 |
| Jul 26 | 142 | 142 | 144 | 2 |
A business that went through the fire — losses in FY16 and FY17 and FY18 and FY19 and FY20, records now
Over 12 years, income went from ₹38,125 Cr to ₹75,613 Cr (about 6% a year), and profit from ₹2,988 Cr to ₹10,309 Cr.revenuenet_profit
The books show real losses in FY16 and FY17 and FY18 and FY19 and FY20 (worst: ₹−6,276 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY14 | 38,125 |
| FY15 | 43,685 |
| FY16 | 42,093 |
| FY17 | 39,585 |
| FY18 | 38,313 |
| FY19 | 41,005 |
| FY20 | 42,591 |
| FY21 | 40,854 |
| FY22 | 38,281 |
| FY23 | 47,932 |
| FY24 | 61,073 |
| FY25 | 71,308 |
| FY26 | 75,613 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY14 | 2,988 |
| FY15 | 2,015 |
| FY16 | -6,276 |
| FY17 | -1,492 |
| FY18 | -5,982 |
| FY19 | -5,426 |
| FY20 | -3,051 |
| FY21 | 2,081 |
| FY22 | 3,487 |
| FY23 | 3,839 |
| FY24 | 6,567 |
| FY25 | 9,552 |
| FY26 | 10,309 |
Data: Spread % by year
| Period | Spread % (%) |
|---|---|
| FY14 | 28.7 |
| FY15 | 26.2 |
| FY16 | 28.1 |
| FY17 | 30.3 |
| FY18 | 27.8 |
| FY19 | 33.6 |
| FY20 | 36.2 |
| FY21 | 35.3 |
| FY22 | 37.1 |
| FY23 | 42.8 |
| FY24 | 38.2 |
| FY25 | 34.7 |
| FY26 | 33.7 |
Interest income grew 6% — steady, not spectacular
Mar 26 income was ₹19,573 Cr, up 6% on a year ago. A bank grows by lending more and charging well — this line is both together.revenue
Data: Quarterly interest + fee income
| Period | Income (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 14,442 | – |
| Sep 23 | 15,062 | – |
| Dec 23 | 15,319 | – |
| Mar 24 | 16,250 | – |
| Jun 24 | 17,046 | 18.0 |
| Sep 24 | 17,466 | 16.0 |
| Dec 24 | 18,317 | 19.6 |
| Mar 25 | 18,479 | 13.7 |
| Jun 25 | 18,467 | 8.3 |
| Sep 25 | 18,521 | 6.0 |
| Dec 25 | 19,052 | 4.0 |
| Mar 26 | 19,573 | 5.9 |
The squeeze is easing — the spread bottomed at 32% and is mending
Of every ₹100 of interest the bank earns, ₹65 goes straight out as interest on deposits and borrowings. It keeps ₹35 — up 1 point from a year ago.revenueinterest_expense
The visible arc: squeezed from 41% down to 32% (Sep 25) as deposits repriced faster than loans, and recovering since. The direction matters more than the level now.interest_expense
Data: Share of interest income kept, quarterly
| Period | Spread kept (%) |
|---|---|
| Jun 23 | 41.4 |
| Sep 23 | 38.5 |
| Dec 23 | 36.1 |
| Mar 24 | 37.0 |
| Jun 24 | 37.3 |
| Sep 24 | 34.7 |
| Dec 24 | 33.6 |
| Mar 25 | 33.3 |
| Jun 25 | 33.3 |
| Sep 25 | 32.3 |
| Dec 25 | 34.4 |
| Mar 26 | 34.7 |
Bad loans are healing — from a worst of 7.3% (Mar 23) to 2.3%
₹2.3 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying — down from ₹7.3 at the Mar 23 worst. After the money already set aside, the true exposure is 0.6%.gross_npa_pctnet_npa_pct
Falling bad loans do double duty: less money set aside for losses flows straight back into profit — and the profit bridge this year shows exactly that. The tailwind eventually runs out; the loan book has to take over.gross_npa_pctnet_profit
Data: Bad loans as % of the book, quarterly
| Period | Gross NPA (%) | Net NPA (after provisions) (%) |
|---|---|---|
| Mar 23 | 7.3 | 1.7 |
| Jun 23 | 6.7 | 1.7 |
| Sep 23 | 5.8 | 1.5 |
| Dec 23 | 5.4 | 1.4 |
| Mar 24 | 5.0 | 1.2 |
| Jun 24 | 4.6 | 1.0 |
| Sep 24 | 4.4 | 0.9 |
| Dec 24 | 3.7 | 0.9 |
| Mar 25 | 3.3 | 0.8 |
| Jun 25 | 2.9 | 0.8 |
| Sep 25 | 2.5 | 0.7 |
| Dec 25 | 2.3 | 0.6 |
Profit grew 19% year on year
Mar 26 profit was ₹3,089 Cr, up 19% on last year — earnings per share of ₹6.78.net_profiteps
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 1,562 | – |
| Sep 23 | 1,499 | – |
| Dec 23 | 1,931 | – |
| Mar 24 | 1,574 | – |
| Jun 24 | 1,890 | 21.0 |
| Sep 24 | 2,422 | 61.6 |
| Dec 24 | 2,638 | 36.6 |
| Mar 25 | 2,602 | 65.3 |
| Jun 25 | 1,831 | -3.1 |
| Sep 25 | 2,576 | 6.4 |
| Dec 25 | 2,814 | 6.7 |
| Mar 26 | 3,089 | 18.7 |
The biggest force in the bridge: lending more.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 2,602 |
| More interest income | +1,094 |
| Costlier deposits | −452 |
| Running costs & provisions | +61 |
| Fees & other income | −175 |
| Tax | −41 |
| PAT Mar 26 | 3,089 |
You are paying near the top of its own range
Today you pay ₹0.72 for every ₹1 of book value, against a long-run median of ₹0.50. It has traded cheaper than this only 87% of the time since 2016.pb_ratio
Data: Price-to-book over time (weekly) (sampled — full series in the embedded dataset)
| Period | P/BV (x) |
|---|---|
| Feb 16 | 0.2 |
| Apr 16 | 0.2 |
| Jul 16 | 0.3 |
| Sept 16 | 0.3 |
| Nov 16 | 0.3 |
| Feb 17 | 0.3 |
| Apr 17 | 0.4 |
| Jun 17 | 0.4 |
| Sept 17 | 0.5 |
| Nov 17 | 0.6 |
| Jan 18 | 0.5 |
| Mar 18 | 0.3 |
| Jun 18 | 0.3 |
| Aug 18 | 0.4 |
| Oct 18 | 0.4 |
| Jan 19 | 0.5 |
| Mar 19 | 0.4 |
| May 19 | 0.5 |
| Aug 19 | 0.4 |
| Oct 19 | 0.4 |
| Dec 19 | 0.5 |
| Feb 20 | 0.3 |
| May 20 | 0.2 |
| Jul 20 | 0.3 |
| Sept 20 | 0.3 |
| Dec 20 | 0.3 |
| Feb 21 | 0.4 |
| Apr 21 | 0.5 |
| Jul 21 | 0.5 |
| Sept 21 | 0.4 |
| Nov 21 | 0.5 |
| Jan 22 | 0.4 |
| Apr 22 | 0.3 |
| Jun 22 | 0.3 |
| Aug 22 | 0.4 |
| Nov 22 | 0.5 |
| Jan 23 | 0.7 |
| Mar 23 | 0.5 |
| Jun 23 | 0.5 |
| Aug 23 | 0.6 |
| Oct 23 | 0.7 |
| Dec 23 | 0.7 |
| Mar 24 | 1.0 |
| May 24 | 0.8 |
| Jul 24 | 0.8 |
| Oct 24 | 0.7 |
| Dec 24 | 0.7 |
| Feb 25 | 0.6 |
| May 25 | 0.7 |
| Jul 25 | 0.6 |
| Sept 25 | 0.7 |
| Nov 25 | 0.8 |
| Feb 26 | 0.9 |
| Apr 26 | 0.8 |
| Jun 26 | 0.7 |
| Jul 26 | 0.7 |
Institutions bought the story, then started backing away
Promoters hold 73.4%, essentially unchanged. Foreign funds own 7.3%, domestic funds 14.0%.promoters_pctfiis_pctdiis_pct
Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 23 | 81.4 | 2.3 | 9.9 |
| Sep 23 | 81.4 | 2.9 | 9.6 |
| Dec 23 | 73.4 | 4.3 | 14.7 |
| Mar 24 | 73.4 | 4.5 | 15.8 |
| Jun 24 | 73.4 | 3.6 | 15.5 |
| Sep 24 | 73.4 | 3.2 | 16.3 |
| Dec 24 | 73.4 | 2.9 | 16.4 |
| Mar 25 | 73.4 | 3.9 | 15.9 |
| Jun 25 | 73.4 | 3.5 | 16.0 |
| Sep 25 | 73.4 | 4.2 | 15.6 |
| Dec 25 | 73.4 | 5.8 | 15.2 |
| Mar 26 | 73.4 | 7.3 | 14.0 |
- Promoters are not selling. Their stake has moved 0.1 points or less in 8 quarters — it sits at 73.4%.promoters_pct
- There is no new bad-loan cycle forming — GNPA is at or near its 8-quarter low of 2.26%.gross_npa_pct
A turnaround that stuck — the question is what’s left to re-rate
The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.
Best thing in the data: bad loans improving (3.7% → 2.3%).gross_npa_pct
Biggest worry: domestic-fund holding falling (15.9% → 14.0%).diis_pct
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Bank of India do?
Bank of India is an India-based bank. The Bank's segments include Treasury Operations, Wholesale Banking and Retail Banking. The Treasury operations segment includes the entire investment portfolio, which is dealing in government and other securities, money market operations and foreign exchange operations.(Source : Company Web-site ). It is listed in the Banks - PSU sector with a market capitalisation of ₹64,484 Cr.
What is Bank of India's share price?
As of 1 July 2026, Bank of India trades at ₹142, up 20% over the past year, with a market capitalisation of ₹64,484 Cr. Beating NIFTY 500 for 48 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Bank of India's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Bank of India's intrinsic value at ₹238 per share under base assumptions (bear ₹106, bull ₹370), against the current price of ₹142 — a 64% margin of safety. The current price already implies roughly -1% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What did Bank of India report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 income was ₹19,573 Cr, up 6% on a year ago. A bank grows by lending more and charging well — this line is both together. Mar 26 profit was ₹3,089 Cr, up 19% on last year — earnings per share of ₹6.78. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is Bank of India growing?
Interest income grew 6% — steady, not spectacular. Mar 26 income was ₹19,573 Cr, up 6% on a year ago. A bank grows by lending more and charging well — this line is both together.
Are Bank of India's profits growing?
Profit grew 19% year on year. Mar 26 profit was ₹3,089 Cr, up 19% on last year — earnings per share of ₹6.78.
How much of its interest income does Bank of India keep?
The squeeze is easing — the spread bottomed at 32% and is mending. Of every ₹100 of interest the bank earns, ₹65 goes straight out as interest on deposits and borrowings. It keeps ₹35 — up 1 point from a year ago.
What is Bank of India's long-term growth record?
Revenue grew from ₹38,125 Cr in FY14 to ₹75,613 Cr in FY26 — a 5.9% compound annual growth rate over 12 years. Profit after tax compounded at 10.9% over the same period (₹2,988 Cr → ₹10,309 Cr).
Is Bank of India stock in an uptrend?
An uptrend that has held for 42 weeks. Bank of India is in Stage 2 — advancing, 42 weeks in (pending). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is Bank of India stock rising?
The price is up 20% over the past year, in a confirmed Stage 2 uptrend (42 weeks), and has beaten NIFTY 500 for 48 weeks.
Is Bank of India beating the NIFTY 500?
Yes — beating NIFTY 500 for 48 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is Bank of India in its business cycle?
The data reads Bank of India as a deep cyclical business currently in its expansion phase — earnings at an all-time high for this company. Profits swing violently in this business — real losses in FY16 and FY17 and FY18 and FY19 and FY20. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns Bank of India — what is the promoter holding?
Promoters hold 73.4%, essentially unchanged. Foreign funds own 7.3%, domestic funds 14.0%. Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t. Shareholding is from Screener's quarterly filings data.
How is Bank of India's asset quality?
Bad loans are healing — from a worst of 7.3% (Mar 23) to 2.3%. ₹2.3 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying — down from ₹7.3 at the Mar 23 worst. After the money already set aside, the true exposure is 0.6%.
What is the bull case for Bank of India?
Bad loans have fallen from 7.3% to 2.3%, profits are compounding — and the market still prices it below its own book value. Best thing in the data: bad loans improving (3.7% → 2.3%). Interest income grew 6% — steady, not spectacular.
What is the bear case for Bank of India — what could break the story?
Biggest worry: domestic-fund holding falling (15.9% → 14.0%). Two quarters of bad loans reversing would kill this story. The nearest-term thing to watch: a single quarter of GNPA rising again would put this story on watch. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Bank of India a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: a turnaround that stuck — the question is what’s left to re-rate. The numbers are genuinely mixed, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is on watch at 60% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.