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CANARA BANK Surges by 5%; BSE BANKEX Index Up 1.4%

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CANARA BANK Surges by 5%; BSE BANKEX Index Up 1.4%
Fri, 24 May 12:20 PM

CANARA BANK share price has zoomed 5% and is presently trading at Rs 272.

Meanwhile, the BSE BANKEX Index is at 34,747 (up 1.4%).

Among the top Gainers in the BSE BANKEX Index today are CANARA BANK (up 5.0%) and BANK OF BARODA (up 6.7%).

Over the last one year, CANARA BANK has moved up from Rs 243 to Rs 272, registering a gain of Rs 29 (up 12.0%).

On the other hand, the BSE BANKEX has moved up from 28,835 to 34,747, registering a gain of 5,912 points (up 20.5%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 51.4%), ICICI BANK (up 43.6%) and SBI (up 32.9%).

What About the Benchmark Indices?

The BSE Sensex is at 39,224 (up 1.0%).

The top gainers among the BSE Sensex stocks today are BHARTI AIRTEL (up 3.5%), L&T (up 3.3%) and M&M (up 2.9%). Other gainers include HERO MOTOCORP (up 2.6%) and TATA MOTORS (up 2.6%). The most traded stocks in the BSE Sensex are YES BANK and SBI.

In the meantime, NSE Nifty is at 11,776 (up 0.9%). BHARTI AIRTEL (up 3.5%) and L&T (up 3.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 34,345 to 39,224, registering a gain of 4,879 points (up 14.1%).

CANARA BANK Financial Update...

CANARA BANK net profit down at Rs 6 billion for the quarter ended March 2019, compared to a loss of Rs 3 billion a year ago. Operating income declined 0.4% to Rs 121.4 billion during the period as against Rs 121.9 billion in January-March 2018.

For the year ended March 2018, CANARA BANK reported 408.7% decrease in net profit to Rs 40.3 billion compared to net profit of Rs 13.1 billion during FY17.

Revenue of the company grew 0.3% to Rs 413 billion during FY18.

The current Price to earnings ratio of CANARA BANK, based on rolling 12 month earnings, stands at 57.4x.

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