Rajiv Mehta bullish on Bank of India

Rajiv Mehta, Banking Analyst at IIFL told CNBC-TV18, "We have been relatively bullish within the public sector undertaking (PSU) banks on the Bank of India. If you look at its performance in the last four-five quarters, their asset quality trend has been more resilient and by far as compared to other PSU banks."

"So we have been taking comfort in that and at the same time with a steep correction in the share price, we also think that valuations are again coming back to very inexpensive level of about 0.5 times FY15 adjusted book. So we remain relatively bullish on the stock as compared to other PSU banks," Mehta said.