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Canara Bank Gains 3%; BSE BANKEX Index Up 1.0%
Wed, 7 Aug 15:28

Canara Bank Gains 3%; BSE BANKEX Index Up 1.0%Image source: Sefa Ozel/www.istockphoto.com

Canara Bank share price has zoomed 3% and is presently trading at Rs 108.5.

Meanwhile, the BSE BANKEX index is at 57,094.0 (up 1.0%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 1.9%) and HDFC Bank (up 1.5%).

Indusind Bank (down 2.5%) and AU SMALL FINANCE BANK (down 0.7%) are among the top losers today.

Over the last one year, Canara Bank has moved up from Rs 65.7 to Rs 108.5, registering a gain of Rs 42.8 (up 65.1%).

On the other hand, the BSE BANKEX index has moved up from 50,325.8 to 57,094.0, registering a gain of 13.4% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 44.2%), SBI (up 42.5%) and Bank of Baroda (up 28.7%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 79,513.0 (up 1.2%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 3.6%) and Power Grid Corp. (up 3.3%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,305.7 (up 1.3%). ONGC and Coal India are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,513.0, registering a gain of 13,559.5 points (up 20.6%).

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 6.5.

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