New Delhi: Canara Bank’s share price was down 0.60 per cent to Rs 116.50 apiece, after opening at Rs 118 apiece and hitting a high of Rs 118.15 apiece. Canara Bank’s share price hit a low of Rs 115.70 apiece during the day’s trade on Monday. The lender has been in focus lately on account of its announcement of a stock split as well as a Rs 16.10 per share dividend. Canara Bank became India’s 4th largets lender after Syndicate Bank merged with it.
Canara Bank share price history
Canara Bank’s share price gained 2.19 per cent over the past 5 days
The stock was down 6.22 per cent over the past 1 month
Canara Bank’s share price gained 47 per cent over the past 6 months
The company’s stock value gained 89.60 per cent over the past year
Brokerage Motilal Oswal maintains a BUY rating on Canara Bank’s shares with a target price of Rs 650 per share. Kotak Institutional Equities has maintained the target price at Rs 530 per share.
Canara Bank stock split
Canara Bank’s shares are in focus after the PSU bank announced its first-ever stock split in the ratio 1:5. The lender also announced a dividend payout of Rs 16.10 per share. The stock will also remain in focus owing to its addition to the following indices with effect from June 24, 2024:
BSE 100 index
Sensex Next 50 index
BSE Bankex
The bank’s stock turned ex-split on May 15, 2024 when one stock of face value Rs 20 was divided into five stocks worth Rs 2 each. The record date for the same was May 15, 2024. The government owns a 62.93 per cent stake in the lender. Its ownership was transferred to the government in 1969.
Canara Bank Q4 earnings
Canara Bank on May 8 reported an 18.33 per cent rise in Q4 net profit to Rs 3,757.23 crore from Rs 3,174.74 crore in the year-ago period. The lender’s net interest income jumped 11.18 per cent to Rs 9,580 crore, while its Q4 net interest margin stood at 3.05 per cent. Canara Bank reduced gross NPAs to 4.23 per cent in Q4 from 5.35 per cent in the year-ago period. The lender’s interest earned rose to Rs 28,807.35 crore from Rs 23,909.80 crore a year ago.
Shares of PSU lender Canara Bank are in focus after the stock turned ex-split effective May 15, 2024. The lender also announced a dividend of Rs 16.10 per share during its earnings announcement in which it reported an 18 per cent year-on-year rise in Q4 net profit to Rs 3,757.23 crore. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
