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Canara Bank to sell 4% stake in Canfin Homes

CFHL had registered a net profit of Rs 74.99 crore during the second quarter ended September

Press Trust of India  |  New Delhi 

A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi. Photo: Reuters
A rickshaw puller passes the Canara Bank branch in the old quarters of Delhi. Photo: Reuters

State-owned said it will offload 4 per cent stake in its housing subsidiary (CFHL). After the transaction, the bank's holding in will come down to 26 per cent, it added. "The bank proposes to offload 4 per cent stake in through empanelled merchant bankers/investment bankers," the bank said in a regulatory filing. However, it did not provide further details. had registered a net profit of Rs 74.99 crore during the second quarter ended September of this financial year, up 36.2 per cent from a year ago. Total income rose to Rs 383.86 crore during the quarter, against Rs 332.37 crore earlier. Canara Bank's stock closed 0.81 per cent up at Rs 368.35 while Canfin Homes surged 7.47 per cent to Rs 509.15 per cent on today.

First Published: Thu, December 21 2017. 21:27 IST
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