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Canara Bank Plunges 4%; BSE BANKEX Index Down 1.4%
Fri, 25 Oct 12:24

Canara Bank Plunges 4%; BSE BANKEX Index Down 1.4%Image source: CreativaImages/www.istockphoto.com

Canara Bank share price has plunged 4% and is presently trading at Rs 94.2.

Meanwhile, the BSE BANKEX index is at 57,715.0 (down 1.4%).

Among the top losers in the BSE BANKEX index today are Indusind Bank (down 19.4%) and AU SMALL FINANCE BANK (down 5.7%).

Kotak Bank (up 0.5%) and Axis Bank (up 0.3%) are among the top gainers today.

Over the last one year, Canara Bank has moved up from Rs 71.0 to Rs 94.2, registering a gain of Rs 23.2 (up 32.7%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 57,715.0, registering a gain of 19.0% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.2%), ICICI Bank (up 34.1%) and Federal Bank (up 30.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,321.2 (down 0.9%).

The top losers among the BSE Sensex today are Indusind Bank (down 19.4%) and M&M (down 4.9%). The most traded stocks in the BSE Sensex are Tata Steel and Indusind Bank.

In the meantime, NSE Nifty is at 24,135.5 (down 1.1%). Indusind Bank and M&M are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 79,321.2, registering a gain of 14,749.3 points (up 22.8%).

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 5.6.


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