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Canara Bank

(CANBK)

₹94.463.43%

as on 04:01PM, 21 Nov 2024

Overview
News
Financials
Q2 2024 Results
Technicals
F&O

Canara Bank Analyst Rating

based on 16 analysts

BUY

60.00%

Buy

20.00%

Hold

20.00%

Sell

Based on 16 analysts offering long term price targets for Canara Bank. An average target of ₹121.81

Source: S&P Global Market Intelligence

Canara Bank Share analysis

Canara Bank price forecast by 16 analysts

Upside of24.54%

High

₹140

Target

₹121.81

Low

₹83

Canara Bank target price ₹121.81, a slight upside of 24.54% compared to current price of ₹94.46. According to 16 analysts rating.

Source: S&P Global Market Intelligence

Canara Bank Performance

  • Day's Low

    Day's High

    ₹92.52
    ₹97.95
  • 52 Week's Low

    52 Week's High

    ₹77.8
    ₹128.9
1 Month Return-4.91 %
3 Month Return-12.38 %
1 Year Return+ 23.12 %
Previous Close₹97.81
Open₹97.95
Volume4.08Cr
Upper Circuit-
Lower Circuit-
Market Cap₹88,720.04Cr

Canara Bank Key Statistics

P/E Ratio5.55
PEG Ratio2.41
Market Cap₹88,720.04 Cr
P/B Ratio1.35
EPS16.296
Dividend Yield2.77
SectorBanks
ROE20.22

Canara Bank Peer Comparison

Company
Analyst ViewMarket Cap5 Year CAGRDebt to Asset RatioNet ProfitYearly Revenue
BUY₹88,720.04 Cr24.09%NA₹15,278 Cr₹1,39,164 Cr
HOLD₹47,607.25 Cr8.59%NA₹6,564 Cr₹67,488 Cr
BUY₹88,565.09 Cr20.32%NA₹13,797 Cr₹1,18,188 Cr
HOLD₹1,15,917.83 Cr11.89%NA₹9,107 Cr₹1,23,222 Cr
BUY₹70,452.95 Cr66.71%NA₹8,419 Cr₹64,231 Cr

About Canara Bank

Canara Bank is a prominent public sector bank in India, providing a wide range of banking and financial services. Founded in 1906 by Ammembal Subba Rao Pai, the bank is headquartered in Bengaluru, Karnataka, and is registered under the Company Identification Number (CIN) L65191KA1906GOI000166. Canara Bank operates in various segments, including retail banking, corporate banking, MSME banking, and treasury operations. The bank offers diverse products such as savings accounts, loans, credit cards, and investment services to meet the needs of both individual and business customers.

Canara Bank operates primarily in India but has a significant international presence with branches in the UK, UAE, Russia, South Africa, and several other countries. The bank has several subsidiaries, including Canara HSBC Life Insurance, Canara Robeco Asset Management, and Canbank Factors Limited, which cater to insurance, asset management, and factoring services, respectively. A notable fact about Canara Bank is its merger with Syndicate Bank in 2020, making it one of the largest public sector banks in India. The merger has enhanced its scale, expanded its network, and strengthened its market position in the Indian banking industry.

Share Price: ₹94.46 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹88,720.04Cr as of today
Revenue: ₹38,006.05Cr as on September 2024 (Q3 24)
Net Profit: ₹4,187.76Cr as on September 2024 (Q3 24)
Listing date: 23 Dec, 2002
Chairperson Name: Vijay Srirangan
OrganisationCanara Bank
Headquarters
IndustryBanks
E-voting on sharesClick here to vote

What's happening today

  • img

    Today's Timeline - Invalid Date

    05:30 AM

    -

    Canara Bank's stock price drops 3.79%, leading to a market cap loss of Rs 3,365 crore.

    01:45 PM

    -

    Public sector banks, including Canara Bank, decline up to 7% amid broader market sell-off linked to Adani Group.

Key events for Canara Bank

  • Canara Bank Faces Significant Stock Decline - 21 Nov, 2024

    Canara Bank's stock fell 3.79%, resulting in a market cap loss of Rs 3,365 crore. The decline continued with a broader market sell-off affecting public sector banks.

  • Canara Bank Classifies Reliance Accounts as Fraudulent - 16 Nov, 2024

    Canara Bank has identified the financial accounts of Reliance Communications and its subsidiary, Reliance Telecom, as fraudulent, citing an unsatisfactory response to a prior notice.

  • Canara Bank Classifies Reliance Accounts as Fraud - 15 Nov, 2024

    Canara Bank has classified Reliance Communications and Reliance Telecom as fraud accounts due to misuse of funds and improper routing of loans. The accounts were reported to the RBI on September 18.

  • Canara Bank's Learning Centre Inaugurated by FM - 11 Nov, 2024

    On November 11, 2024, FM Sitharaman inaugurated four Nari Shakti Branches of Union Bank and Canara Bank's Learning Centre in Bengaluru, promoting women's empowerment.

  • Canara Bank Announces Digital Mandate and Service Charge Waiver - 08 Nov, 2024

    Canara Bank has engaged Goldmine Advertising for its digital media strategy and waived service charges for Doorstep Banking Life Certificate submissions until year-end. Additionally, an MP emphasized the need for local language speakers in nationalised banks during a recent event.

  • Canara Bank Focuses on Subsidiary Valuation Improvement - 07 Nov, 2024

    Canara Bank is actively working to enhance the valuation of its subsidiary, CanFin Homes, following the RBI's draft circular on business and prudential regulations for investments, as stated by CEO K Satyanarayan Raju.

  • Canara Bank's Growth Prospects and Strategic Moves - 06 Nov, 2024

    Canara Bank is set to sponsor the merger of four RRBs in Andhra Pradesh. CEO Raju expresses confidence in double-digit growth and discusses credit card operations post-RBI rejection.

  • Canara Bank Faces 20% Decline; Buy on Dips - 05 Nov, 2024

    Canara Bank's stock has declined 20% from its peak of Rs 129 in June 2024, closing at Rs 103 on November 1. Experts suggest that short- to medium-term traders with a high-risk profile should consider buying on dips, targeting Rs 144 in the next 6-8 months. The stock is currently at a potential entry point, trading around the neckline of a Rounding Bottom breakout pattern.

  • Canara Bank Targets Rs 6,000 Crore Recovery - 04 Nov, 2024

    Canara Bank aims to recover approximately Rs 6,000 crore from bad loans in Q2 of 2024-25. The bank reported Rs 2,905 crore recovery in the previous quarter and anticipates similar recoveries in the upcoming quarters.

  • Canara Bank Targets Rs 6,000 Crore Recovery - 03 Nov, 2024

    Canara Bank plans to recover Rs 6,000 crore from bad loans in the second half of FY25, anticipating Rs 3,000 crore in both Q3 and Q4. The bank reported an 11% rise in Q2 net profit to Rs 4,015 crore. An IPO for Canara Robeco Asset Management Company is expected in Q4, pending approval.

  • Canara Bank Focuses on Risk Control Amid Growth - 02 Nov, 2024

    Canara Bank prioritizes risk management as its gold loan portfolio surpasses ₹1.5 lakh crore. The bank reports improved asset quality, with a net profit increase of 11.3% year-on-year, driven by lower NPAs and effective recovery strategies.

  • Canara Bank Leads Sale of Non-Performing Loans - 01 Nov, 2024

    Canara Bank, leading a consortium of lenders, is seeking binding bids to sell Rs 1,226.13 crore of non-performing loans related to Mumbai Metro One Private Limited through a Swiss challenge auction on November 28.

  • Canara Bank Launches Digital Lending, Maintains Strong Growth - 31 Oct, 2024

    Canara Bank's MD announced a digital lending initiative for MSMEs, while Motilal Oswal reiterated a BUY rating with a target price of Rs 125, highlighting strong PAT growth and improved asset quality.

  • Canara Bank Reports Profit, Adjusts Loan Growth Strategy - 30 Oct, 2024

    Canara Bank reported an 11% rise in net profit for Q2 FY25. The bank is moderating gold loan growth to 15-17% amid regulatory concerns and has filed for insolvency against BGR Energy Systems. It aims to maintain its NIM guidance despite rising deposit costs.

  • Canara Bank Reports Strong Q2 Earnings Growth - 29 Oct, 2024

    Canara Bank's Q2 FY25 results show an 11% increase in net profit to Rs 4,015 crore, driven by lower provisions and improved asset quality. Gross NPAs decreased to 3.73%, while total income rose to Rs 34,721 crore. The bank plans to open 250 new branches this year.

Insights on Canara Bank

Insights help you understand the recent movement of the company's critical parameters, giving you an overall view of the company.

  • imgPOSITIVE IMPACT

    MF Holding Up

    img

    Mutual Funds have increased holdings from 3.49% to 4.34% in Sep 2024 quarter

  • imgPOSITIVE IMPACT

    Profit Spike

    img

    Netprofit is up for the last 4 quarters, 3.79K Cr → 4.18K Cr (in ₹), with an average increase of 3.3% per quarter

  • imgPOSITIVE IMPACT

    Retail Holding Up

    img

    Retail Investor have increased holdings from 13.96% to 14.17% in Sep 2024 quarter

  • imgPOSITIVE IMPACT

    Revenue Rich

    img

    Revenue is up for the last 2 quarters, 36.96K Cr → 38.00K Cr (in ₹), with an average increase of 2.7% per quarter

  • imgNO EFFECT

    Promoter Holding Unchanged

    img

    Promoters holdings remained unchanged at 62.93% of holdings in Sep 2024 quarter

  • imgNEGATIVE IMPACT

    FII Holding Down

    img

    Foreign Institutions have decreased holdings from 11.89% to 11.25% in Sep 2024 quarter

  • imgNEGATIVE IMPACT

    Price Dip

    img

    In the last 6 months, CANBK stock has moved down by -15.8%

Canara Bank Financials

Value in ₹ crore
DetailsQ'3 23Q'4 23Q'1 24Q'2 24Q'3 24
Revenue₹33,891.21Cr (-)₹35,630.18Cr (↑5.13%)₹37,384.14Cr (↑4.92%)₹36,965.75Cr (↓1.12%)₹38,006.05Cr (↑2.81%)
Net Income₹3,797.67Cr (-)₹3,790.21Cr (↓0.20%)₹3,951.76Cr (↑4.26%)₹4,067.51Cr (↑2.93%)₹4,187.76Cr (↑2.96%)
Net Profit Margin11.21% (-)10.64% (↓5.08%)10.57% (↓0.66%)11.00% (↑4.07%)11.02% (↑0.18%)
Value in ₹ crore
Details2021202220232024
Total Assets₹11,53,675.03Cr (-)₹12,28,104.87Cr (↑6.45%)₹13,45,732.23Cr (↑9.58%)₹14,91,540.71Cr (↑10.83%)
Total Liabilities₹11,53,675.03Cr (-)₹12,28,104.87Cr (↑6.45%)₹13,45,732.23Cr (↑9.58%)₹14,91,540.71Cr (↑10.83%)
Value in ₹ crore
Details20202021202220232024
Operating Cash Flow-₹5,458.74Cr (-)₹58,533.23Cr (↓1,172.28%)₹268.10Cr (↓99.54%)-₹40,676.37Cr (↓15,272.09%)₹14,254.12Cr (↓135.04%)

Index Inclusions

Nifty Next 50

₹66,765.45

-1.49 (-1010.05%)

BSE 200

₹10,722.03

-0.87 (-93.59%)

S&P BSE PSU

₹18,694.00

-1.57 (-297.32%)

S&P BSE Fin. Ser

₹11,180.30

-0.65 (-73.2%)

Nifty PSU Bank

₹6,318.90

-2.7 (-175.15%)

BANKEX

₹57,382.57

-0.42 (-244.47%)

NIFTY 100

₹24,135.10

-0.98 (-239.6%)

S&P BSE 250 LargeMidCap

₹10,169.78

-0.85 (-87.03%)

BANK NIFTY

₹50,372.90

-0.5 (-253.6%)

BSE 100

₹24,662.39

-0.76 (-189.82%)

S&P BSE Enhanced Value

₹878.60

-0.88 (-7.82%)

S&P BSE SEN. N50

₹78,852.09

-1.05 (-834.81%)

Nifty 500

₹21,820.85

-0.83 (-183.5%)

Nifty LargeMidcap 250

₹15,236.40

-0.68 (-104.3%)

Nifty 200

₹13,129.70

-0.87 (-115.1%)

S&P BSE 100 LargeCap TMC

₹8,695.60

-0.97 (-85.24%)

Nifty100 Eq Weig

₹30,708.85

-1.79 (-558.25%)

S&P BSE Largecap

₹9,050.93

-0.97 (-89.06%)

S&P BSE AllCap

₹10,471.31

0.68 (71.07%)

BSE 500

₹34,361.41

-0.84 (-289.42%)

Canara Bank Shareholding Pattern

InvestorsHoldings %FY Quarter3M change
Promoter Holdings
62.93%
0.00
Foreign Institutions
11.25%
-5.39
Mutual Funds
4.34%
24.36
Retail Investors
14.17%
1.50
Others
7.31%
-5.40

Canara Bank Key Indicators

Details20202021202220232024
Earning Per Share (₹)-3.933.286.3911.9216.3
Details2021202220232024
Return On Equity %5.018.9617.1420.22
Details20202021202220232024
Return On Assets %-0.270.250.50.841.02
Details20202021202220232024
Book Value Per Share (₹)338.5328.68338.76388.97457.6

Canara Bank Valuation

Canara Bank in the last 5 years

  • Overview

  • Trends

Lowest (-8.58x)

March 4, 2021

Today (5.55x)

November 19, 2024

Industry (15.21x)

November 19, 2024

Highest (35.86x)

April 2, 2019

LowHigh

Canara Bank Earnings and Dividends

  • Canara Bank Earnings Results

    Canara Bank’s net profit jumped 10.27% since last year same period to ₹4,187.76Cr in the Q2 2024-2025. On a quarterly growth basis, Canara Bank has generated 2.96% jump in its net profits since last 3-months.

    Read More about Earnings Results
  • Canara Bank Dividends May,2024

    In the quarter ending March 2024, Canara Bank has declared dividend of ₹3.22 - translating a dividend yield of 16.11%.

    Read More about Dividends

Canara Bank Technicals Summary

Bearish

Neutral

Bullish

Bearish

Canara Bank is currently in a Bearish trading position according to technical analysis indicators.

FAQs on Canara Bank

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Canara Bank (CANBK) share price today is ₹94.46

Canara Bank is listed on NSE

Canara Bank is listed on BSE

  • Today’s highest price of Canara Bank is ₹97.95.
  • Today’s lowest price of Canara Bank is ₹92.52.

PE Ratio of Canara Bank is 5.55

PE ratio = Canara Bank Market price per share / Canara Bank Earnings per share

Today’s traded volume of Canara Bank(CANBK) is 4.08Cr.

Today’s market capitalisation of Canara Bank(CANBK) is ₹88720.04Cr.

Canara Bank(CANBKPrice
52 Week High
₹128.9
52 Week Low
₹77.8

Canara Bank(CANBK) share price is ₹94.46. It is down -26.72% from its 52 Week High price of ₹128.9

Canara Bank(CANBK) share price is ₹94.46. It is up 21.41% from its 52 Week Low price of ₹77.8

Canara Bank(CANBKReturns
1 Day Returns
-3.35%
1 Month Returns
-4.91%
3 Month Returns
-12.38%
1 Year Returns
23.12%