Canara Bank Share Price – NSE /  BSE

Banks, Mid Cap

Canara Bank fell 0.51% today to trade at Rs 108.35. The BSE BANKEX index is down 0.23% to quote at 60627.23. The index is up 3.94 % over last one month. Among the other constituents of the index, Yes Bank Ltd decreased 0.32% and HDFC Bank Ltd lost 0.23% on the day. The BSE BANKEX index went up 13.87 % over last one year compared to the 17.09% surge in benchmark SENSEX.

Canara Bank has added 6.8% over last one month compared to 3.94% gain in BSE BANKEX index and 3.56% rise in the SENSEX. On the BSE, 29702 shares were traded in the counter so far compared with average daily volumes of 11.75 lakh shares in the past one month. The stock hit a record high of Rs 129.35 on 04 Jun 2024. The stock hit a 52-week low of Rs 82.66 on 21 Dec 2023.

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Canara Bank announced revision in the Marginal Cost of Funds Based Lending Rate (MCLR) of the bank with effect from 12 December 2024 as under:

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The bank will divest its stake in Canara Robeco Asset Management Company (AMC) and Canara HSBC Life Insurance Company by 13% and 14.5% respectively.

Further, RBI has intimated that in accordance with the exemption granted by the Government of India, the bank should adhere to the 31 October 2029 timeline for bringing its stake in these entities up to 30%

The bank said that it will initiate the process of IPO and shall keep Exchanges informed about the material developments in this regard duly complying with SEBI LODR regulations.

Canara Bank is an Indian public sector bank. As on 30 September 2024, the bank has 9,658 numbers of branches, out of which 3,115 are rural, 2,778 semiurban, 1,918 urban & 1,847 metro along with 9,881 ATMs. The bank is also having 4 overseas branches in London, New York, Dubai and Gift City.

The bank's standalone net profit jumped 11.32% to Rs 4,014.53 crore on 10.32% increase in total income to Rs 34,721.07 crore in Q2 FY25 over Q2 FY24.

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Canara Bank gained for a third straight session today. The stock is quoting at Rs 102.15, up 1.16% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.22% on the day, quoting at 24168.6. The Sensex is at 79913.13, down 0.25%. Canara Bank has risen around 1.45% in last one month.

Meanwhile, Nifty Bank index of which Canara Bank is a constituent, has risen around 1.71% in last one month and is currently quoting at 52207.5, down 0.14% on the day. The volume in the stock stood at 117.12 lakh shares today, compared to the daily average of 266.58 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 102.23, up 1.42% on the day. Canara Bank is up 28.94% in last one year as compared to a 21.51% spurt in NIFTY and a 18.81% spurt in the Nifty Bank index.

The PE of the stock is 5.98 based on TTM earnings ending September 24.

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