Canara Bank (CANBK)

Axis Securities Recommends Canara Bank as a Buy - 26 Apr, 2024

Rajesh Palviya of Axis Securities recommends Canara Bank today, citing price gains and an increase in open interest indicating long buildup. Strong support is seen at the 600 level.

Canara Bank Stock Gains on Steady Q4 Performance Expectations - 25 Apr, 2024

Shares of Canara Bank gained up to 3% in intra-day trade on expectations of steady Q4 performance and better earnings growth than private banks. Fitch Ratings reaffirmed BBB-ratings for SBI and Canara Bank with a stable outlook, noting a resurgence in loan growth, particularly in farm and corporate sectors. Analysts at Elara Capital retain their neutral stance on banks but believe the risk-reward may be tilted toward frontline peers. JM Financial Institutional Securities sees PSU Banks as key beneficiaries of tight liquidity environment.

Canara Bank's Q3 FY23-24 Revenue and Net Profit Increase - 24 Apr, 2024

Canara Bank reports a 26.3% increase in revenue from operations to Rs. 28,492 crore and a 25.1% increase in net profit to Rs. 3,827 crore in Q3 FY23-24. Societe Generale buys nearly 70.4 lakh equity shares valued at Rs. 422.3 crore.

Canara Bank Stock Stable Despite Share Sell-Off - 23 Apr, 2024

Despite Marshall Wace selling shares worth Rs 2,365 crore in Canara Bank, the bank's stock price remained stable. Analysts predict a target of around Rs 650 for the bank in the coming weeks.

Canara Bank Fixes Record Date for Stock Split - 20 Apr, 2024

State-owned Canara Bank has fixed May 15 as the record date to determine shareholders' eligibility for a stock split. The bank's board had approved splitting existing shares of face value Rs10 each into five shares having a face value of Rs2 each, fully paid up, ranking pari-passu in all respects. The Reserve Bank of India gave its go-ahead for the stock split on April 16, 2024.

Canara Bank Announces Record Date for Stock Split - 19 Apr, 2024

State-owned Canara Bank has fixed May 15 as the record date for determining shareholder eligibility for a 1:5 stock split. The move aims to increase liquidity and make shares more affordable for retail investors. Shares have risen over 30% this year and nearly doubled in the last 12 months.

Mixed News for Canara Bank Stock - 16 Apr, 2024

Canara Bank's stock witnessed mixed news this week - Fitch affirmed its ratings while Rekha Jhunjhunwala reduced her stake. The bank's market cap also dropped by Rs 35 billion last week.

Canara Bank Plans to Launch New Digital Services and Improve Customer Experience - 13 Apr, 2024

Canara Bank, a major player in the Indian banking sector with a focus on retail, agriculture, and MSME segments, has seen growth in net interest income and net profit. The bank plans to launch new digital services and improve customer experience.

Canara Bank Witnesses Improvement in Operating Profit - 12 Apr, 2024

Canara Bank has witnessed continued improvement in operating profit due to higher net interest income and lower credit costs. The bank is expected to have healthy asset quality going forward, with management confident of maintaining NIMs at around 3% and credit growth of 12%. Rekha Jhunjhunwala and LIC have trimmed their stake in the bank.

Canara Bank Boasts Impressive Returns Despite Reduction in Stake by Rekha Jhunjhunwala - 11 Apr, 2024

Rekha Jhunjhunwala has reduced her stake in Canara Bank, but the bank still boasts impressive returns of 115% over the past year and a YTD return of 38%.

Canara Bank Selected as Top Pick by Analyst Amid Stake Trim - 10 Apr, 2024

Senior VP at Geojit Financial, Gaurang Shah, selects Canara Bank as a top pick with the potential to reach an upside target of Rs 700. Meanwhile, Rekha Jhunjhunwala trimmed her stake in the bank during Q4, despite strong returns over the past year.

Canara Bank Stock Rallies on Multi-Year High and Global Fund Allocations - 09 Apr, 2024

Canara Bank's stock has rallied over 30% in the last three months and hit a multi-year high after a range breakout. Global funds have increased their allocations to Canara Bank, along with other major Indian stocks.

Canara Bank Stock Up for Fifth Straight Session - 04 Apr, 2024

Canara Bank stock rose for the fifth consecutive session, up 0.16% to Rs 607.9 on NSE. The bank has added around 0.9% in the last month with a PE of 7.54 based on TTM earnings ending December 23.

Canara Bank Launches New Products Including Healthcare Loan - 03 Apr, 2024

State-owned Canara Bank has launched a new healthcare-focused loan product called Canara Heal aimed at meeting the shortfall of hospitalisation expenditure. The bank also introduced a customised savings account for women called Canara Angel with unique features such as cancer care policy, pre-approved personal loan Canara ReadyCash and online loan against term deposit product Canara MyMoney. Additionally, Canara HSBC Life Insurance launched a 360° marketing campaign promoting long-term financial planning.

Canara Bank Shares Double Investor Wealth in a Year - 02 Apr, 2024

Canara Bank's stock has risen by 107.75% in one year, delivering multibagger returns to investors. Brokerages BoFA Securities and Motilal Oswal have buy calls on the stock with price targets of Rs 600 and Rs 650 respectively.

Canara Bank Plans Stake Dilution Through IPO - 01 Apr, 2024

Canara Bank has approved the process of offloading a 13% stake in Canara Robeco Asset Management Company through an IPO, pending approvals from RBI and DFS. The stock price increased by 4.56% over the last two days.

Canara Bank Stock Rallies and Forms Bullish Pattern - 30 Mar, 2024

Canara Bank's stock rallied by 3% to reach Rs 581 after recent consolidation and formed a bullish candlestick pattern on the daily charts with above-average volumes. An analyst from Kotak Securities recommends investors retain an optimistic stance and look for a target of Rs 620.

Canara Bank to Dilute Stake in Subsidiary Via IPO - 29 Mar, 2024

Canara Bank has approved the process of diluting a part of its stake by listing its subsidiary, Canara Robeco Asset Management Company Ltd (CRAMC), on the stock exchange through an initial public offering (IPO). The bank will dilute 13% of its stake by listing CRAMC on the stock exchange via IPO.

Canara Bank to Sell 13% Stake in Canara Robeco Asset Management Company - 28 Mar, 2024

Canara Bank has received board approval to sell a 13% stake in Canara Robeco Asset Management Company through an IPO, subject to regulatory approvals from the RBI and Department of Financial Services.