Life Insurance Corporation (LIC), the country’s largest insurer, has raised stake in Canara Bank by about 7.7% through preferential allotment of shares. With acquisition of 4 crore shares for a consideration of Rs 1,520.32 crore, the stake of LIC in Canara Bank has gone up to 14.4%. Prior to this preferential allotment, LIC was holding 3.46 crore shares or 6.7% in Canara Bank.
The bank has posted a marginal rise of 0.35% in its net profit at Rs 612.96 crore for the quarter ended March 31, 2015 as compared to Rs 610.83 crore for the same quarter in the previous year. Total income of the bank has increased by 7.06% at Rs 12429.21 crore for quarter under review as compared to Rs 11609.72 crore for the quarter ended March 31, 2014.
For the year ended March 31, 2015, the bank has posted a rise of 10.85% in its net profit at Rs 2702.63 crore as compared to Rs 2438.19 crore for the same period in the previous year. Total income of the bank has increased by 11.09% at Rs 48300.29 crore for year under review as compared to Rs 43480.37 crore for the period ended March 31, 2014.
Company Name | CMP |
---|---|
SBI | 840.20 |
Bank Of Baroda | 286.25 |
Canara Bank | 120.80 |
PNB | 128.90 |
Union Bank Of India | 147.65 |
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