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Canara Bank rises despite reporting 27% fall in Q2 net profit

30 Oct 2017 Evaluate

Canara Bank is currently trading at Rs. 411.00, up by 7.25 points or 1.80% from its previous closing of Rs. 403.75 on the BSE.

The scrip opened at Rs. 404.80 and has touched a high and low of Rs. 428.35 and Rs. 397.65 respectively. So far 568736 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 463.40 on 26-Oct-2017 and a 52 week low of Rs. 250.26 on 02-Jan-2017.

Last one week high and low of the scrip stood at Rs. 463.40 and Rs. 299.05 respectively. The current market cap of the company is Rs. 24614.33 crore.

The promoters holding in the company stood at 66.30%, while Institutions and Non-Institutions held 27.42% and 6.28% respectively.

The Bank has reported 27.10% fall in net profit at Rs 260.18 crore for the quarter ended September 30, 2017 as compared to Rs 356.91 crore for the same quarter in the previous year. The total income of the Bank decreased marginally by 1.58% at Rs 11994.64 crore for Q2FY18 as compared Rs 12187.12 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased to 10.51%, as compared to 9.81% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 7.02% in Q2FY18.

Peers
Company Name CMP
State Bank Of India 959.00
PNB 112.00
Bank Of Baroda 232.35
Canara Bank 118.60
Union Bank Of India 168.10
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