RBI to continue efforts to curb rupee volatility; external factors driving currency fall: FM
Bank of India secured new business.
· Economic Times Markets, ET Stocks
Finance Minister Nirmala Sitharaman mentioned the Reserve Bank of India’s ongoing efforts to stabilize the rupee's value. She noted that the rupee has significantly depreciated due to global uncertainties, despite India's strong economic fundamentals. Sitharaman highlighted recent measures by the RBI that helped the rupee appreciate temporarily in value.
The analysis
Against that, the stock is -0.1% on the day at ₹134.34, and has returned -8.7% over three months. It sits 24% below its 52-week high. The banks sector has moved -4.8% over the same period, so Bank of India is running 3.9 points behind its peers.
For Bank of India, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- With RBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The company directly in focus is BANKINDIA.
- Sector exposure: Banks.
- The immediate tone of coverage reads negative.
In this story
Related coverage
Rs 1.44 Lakh Crore Mega Suit: B.R. Shetty Drags Bank Of Baroda To Court
Rupee outpaces Asian peers on fresh FX curbs, RBI intervention
India 10-year bond yield tops 7.35% as RBI's liquidity clamp down hurts
Rupee jumps 82 paise to 94.96 against US dollar in early trade
Bank of India declares Rs 575 crore exposure to Future Enterprises as fraud