Canara Bank jumps on aiming to improve bottom line further
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Canara Bank is currently trading at Rs. 314.20, up by 4.75 points or 1.53% from its previous closing of Rs. 309.45 on the BSE.
The scrip opened at Rs. 310.00 and has touched a high and low of Rs. 314.80 and Rs. 310.00 respectively. So far 294413 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 341.60 on 03-Jan-2023 and a 52 week low of Rs. 171.70 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 314.80 and Rs. 304.55 respectively. The current market cap of the company is Rs. 56927.41 crore.
The promoters holding in the company stood at 62.93%, while Institutions and Non-Institutions held 25.16% and 11.92% respectively.
Canara Bank is aiming to improve bottom line further with balanced thrust on retail, MSME and corporate advances, coupled with increased adoption of digitalization for efficiency improvement. The bank recorded an 87 per cent jump in net profit to Rs 10,604 crore in FY 2022-23 with operating profit growing by 20.04 per cent to Rs 27,716 crore compared to preceding financial year.
The bank expects a substantial improvement in low-cost deposits base in FY 2023-24 by increasing customer base, rolling out innovative and customised products and by leveraging technology to provide best in the services to valued customers.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.
