Bank of India hits 52-week low after Q2, support at 108

Bank of India fell as much as 5.6% to a 52-week low after Q2 profit rose 25.4% to Rs 3,202.4 crore, with support at Rs 108 and resistance at Rs 141. Bank of India [

] fell as much as 5.6% to a 52-week low of Rs 123.64 on 26 October and settled 3.6% lower, its third straight negative close, as Q2 FY27 numbers disappointed Dalal Street. Standalone profit rose 25.4% to Rs 3,202.4 crore from Rs 2,554.6 crore. Net interest income grew 18.5% to Rs 7,007.2 crore and operating profit rose 33.2% to Rs 5,089 crore. Provisions jumped 80.7% to Rs 797.4 crore. Gross NPA eased to 1.6% from 1.81% in Q1, and net NPA to 0.42% from 0.51%. The sell-off followed a sequential dip in global net interest margin to 2.47% from 2.52%, a 252 basis point quarterly fall in the domestic CASA ratio to 34.16%, and higher provisions. The bearish momentum is clear: the stock closed near a fresh 52-week low after the results. Support is Rs 108. Resistance is Rs 141. A close above Rs 141 would be the first sign of stabilisation. A close below Rs 108 would extend the fall. Weak margins and falling CASA must stabilise before buyers return. Volume is key here. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.