Canara Bank is a government owned bank established in 1906. It is a public sector bank offering various services including personal Banking, corporate banking, lending and investing. The chairman of Canara Bank is T.N Manoharan and the registered office is located in Bangalore, Karnataka.
As on June 16,2021 the Canara Bank shares are valued at 153.60INR. The market has seen a downfall by 0.49% today. The market cap of CANARA bank is Rs 25,417.40 Crore.
The opening prices were listed as 155.50. The prices went as high as 156.00 but then dropped down to 153.60.
Canara Bank share holders
- 69.33% of shares are held by Promoters of the company
- Non institutions hold 13.48% shares
- Financial Institutions hold 8.67% shares of the company
- 3.36% of shares are held by Mutual funds
Canara Bank Financial reports
In the last quarter (2021), Canara Bank reported Total Income of Rs.567481.45 Cr. and Gross Sales of Rs. 489349.9 Cr. The quarterly revenue for March 21 amounted to Rs.23774 Cr.
The current book value per share amounts to Rs.331.03/share. The book value has reduced by 18.39% in the past one year.
Canara Bank Share Price: Insights
Canara Bank is often called a mid range performer. The stocks are affordable and often grab the attention of investors. But there’s no major rise or fall in the prices. They have remained average and valued around the same momentum for a long time. It’s safe to invest at this market performance but the investors should not expect a huge return as the interest offered by Canara Bank aren’t too high.
Canara bank: Where is it Listed?
The Canara Bank share prices are listed on :
- The stock exchange , Mumbai (BSE)
BSE code : 532483
- National Stock Exchange of India (NSE)
NSE code : CANBK
Why should you invest in Canara Bank shares?
1.The recent financial analysis shows good quarterly growth results.
2.There is a growth in net profit earned by the company with increasing profit margin.
3.Canara Bank has witnessed increasing profits for the last 2 quarters.
4.Mutual funds have gained more shares ,i.e. from 2.39% to 3.36% in this year.
5.The institutional investors increased their share holdings.
6. There is a growth in quarterly net profit with increasing margin
7. The profit margins are rising
Downfalls of investing in Canara Bank
Canara Bank has witnessed declining revenue for the past 3 quarters.
The banking company has made inefficient use of its capital to generate profits.
Canara Bank offers high interest payments as compared to its earnings.
Earned a downgrade by Credit rating agency.
The company goes through declining net cash flow.
My thoughts on trading Canara bank Shares: Short, Mid or Long term?
The Canara Bank is a centralised Bank and hence the capital inflow is stagnant without much disruption. It is always safe to invest in the shares of a bank regulated by the government. The market prices might rise and fall every 3rd hour but Canara Bank maintains a consistency in holding the second most sold share in banking sector after SBI.
Looking at the 5 years chart, I do not see much of a progress. Infact, we are down from 200 INR to below 150 INR in a 5 years range.
I would only trade Canara bank shares mid and short term. I would not look into it from a long term investment perspective.
Share with us under comments if you hold Canara bank shares or planning to buy some?