STILL A GREAT SELL: DISASTROUS Q3: Q4 CAN BE BIGGER TRAGEDY:
BANK OF INDIA:
Yesterday we had forecast Loss of 1400+ crores. And BOI reported Q3 loss at 1505 crores. However this figure hides more than it reveals. ACTUAL LOSS (pbt) is Rs 2194 crores. BOI has written back Tax of Rs 689 crores. So we repeat ACTUAL LOSS for Q3 ALONE is 2194 crores.
For 9 months, BOI showing Loss of 2502 crores. However ACTUAL loss is 3784 crores as for 9 months, Tax write back is 1282 crores. Surprisingly , none of analysts and media noticed / pointed about huge tax write back.
Q4estimate: In Q4, there will not be any tax write back. Moreover , as per sources, as on March15, divergence of approx 13000 was noticed. So far in 9 months BOI had provisioned for 8500 crores. We are afraid that Q4 LOSS may be more than 2500 crores.
Pl note WORSE is not yet over.
It may sound unbelievable but stock can slide to Rs 63-67 Feb expiry and Rs 46-51 by April expiry.
STILL A GOOD SELL
BANK OF INDIA:
Yesterday we had forecast Loss of 1400+ crores. And BOI reported Q3 loss at 1505 crores. However this figure hides more than it reveals. ACTUAL LOSS (pbt) is Rs 2194 crores. BOI has written back Tax of Rs 689 crores. So we repeat ACTUAL LOSS for Q3 ALONE is 2194 crores.
For 9 months, BOI showing Loss of 2502 crores. However ACTUAL loss is 3784 crores as for 9 months, Tax write back is 1282 crores. Surprisingly , none of analysts and media noticed / pointed about huge tax write back.
Q4estimate: In Q4, there will not be any tax write back. Moreover , as per sources, as on March15, divergence of approx 13000 was noticed. So far in 9 months BOI had provisioned for 8500 crores. We are afraid that Q4 LOSS may be more than 2500 crores.
Pl note WORSE is not yet over.
It may sound unbelievable but stock can slide to Rs 63-67 Feb expiry and Rs 46-51 by April expiry.
STILL A GOOD SELL
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