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Canara Bank Gains 4%; BSE BANKEX Index Up 1.1%
Mon, 28 Oct 11:22

Canara Bank Gains 4%; BSE BANKEX Index Up 1.1%Image source: hudiemm/www.istockphoto.com

Canara Bank share price has zoomed 4% and is presently trading at Rs 97.8.

Meanwhile, the BSE BANKEX index is at 58,631.4 (up 1.1%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 5.0%) and ICICI Bank (up 3.4%).

IDFC FIRST BANK (down 2.0%) and Axis Bank (down 0.8%) are among the top losers today.

Over the last one year, Canara Bank has moved up from Rs 70.7 to Rs 97.8, registering a gain of Rs 27.1 (up 38.3%).

On the other hand, the BSE BANKEX index has moved up from 48,173.3 to 58,631.4, registering a gain of 21.7% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 43.3%), ICICI Bank (up 41.7%) and Federal Bank (up 32.0%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,221.1 (up 1.0%).

The top gainers among the BSE Sensex today are ICICI Bank (up 3.4%) and M&M (up 3.4%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,400.4 (up 0.9%). Shriram Transport and Adani Enterprises are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,049.1 to 80,221.1, registering a gain of 16,172.0 points (up 25.2%).

Canara Bank Financial Update...

Canara Bank net profit grew 11.3% YoY to Rs 39,772 million for the quarter ended June 2024, compared to a profit of Rs 35,735 million a year ago. Net sales rose 14.6% to Rs 291,730 million during the period as against Rs 254,508 million in April-June 2023.

For the year ended March 2024, Canara Bank reported 35.8% increase in net profit to Rs 152,786 million compared to net profit of Rs 112,547 million during FY23. Revenue of the company grew 28.7% to Rs 1,105,188 million during FY24.

The current Price to earnings ratio of Canara Bank, based on rolling 12 month earnings, stands at 5.8.

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