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Canara Bank moves higher as its arm transfers assets, liabilities to Exim Bank Tanzania
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Canara Bank is currently trading at Rs. 101.20, up by 1.55 points or 1.56% from its previous closing of Rs. 99.65 on the BSE.
The scrip opened at Rs. 100.65 and has touched a high and low of Rs. 101.35 and Rs. 99.10 respectively. So far 676006 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 129.35 on 04-Jun-2024 and a 52 week low of Rs. 84.64 on 22-Dec-2023.
Last one week high and low of the scrip stood at Rs. 108.40 and Rs. 99.10 respectively. The current market cap of the company is Rs. 91794.99 crore.
The promoters holding in the company stood at 62.93%, while Institutions and Non-Institutions held 22.90% and 14.17% respectively.
Canara Bank’s wholly owned subsidiary -- Canara Bank Tanzania has transferred its assets and liabilities to Exim Bank Tanzania, and ceased its business operations with effect from December 21, 2024.
Earlier, the bank had received approval from the Reserve Bank of India (RBI) to divest its stakes in Canara Robeco Asset Management and Canara HSBC Life Insurance by 13% and 14.5%, respectively, through an IPO.
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.
