Sell Bank of India, target Rs 65: CLSA

CLSA maintains sell rating on Bank of India post March quarter results but slashed its atregt price to Rs 65 from Rs 70 earlier.

The stress in the asset quality rose from RBI-directed downgrades (AQR), steel, and infrastructure companies. With net-NPL/net-worth ratio at over 90 per cent, the bank will need capital infusion from govt or LIC soon, said the CLSA note.