You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Canara Bank gains on plans to raise capital

Capital Market 

rose 1.12% to Rs 316.50 at 10:10 on after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds.

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P Sensex was up 40.32 points or 0.15% at 27,714.74.

On BSE, so far 74,834 shares were traded in the counter as against average daily volume of 4.32 lakh shares in the past one quarter. The stock hit a high of Rs 316.95 and a low of Rs 312.30 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, rising 0.53% compared with Sensex's 2.46% fall. The scrip had also outperformed the market in past one quarter, surging 22.57% as against Sensex's 0.96% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Canara Bank's net profit fell 52.2% to Rs 228.95 crore on 3.8% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 66.3% stake in as per the shareholding pattern as on 30 June 2016.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Canara Bank gains on plans to raise capital

Canara Bank rose 1.12% to Rs 316.50 at 10:10 Ist on BSE after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds.

rose 1.12% to Rs 316.50 at 10:10 on after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds.

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P Sensex was up 40.32 points or 0.15% at 27,714.74.

On BSE, so far 74,834 shares were traded in the counter as against average daily volume of 4.32 lakh shares in the past one quarter. The stock hit a high of Rs 316.95 and a low of Rs 312.30 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, rising 0.53% compared with Sensex's 2.46% fall. The scrip had also outperformed the market in past one quarter, surging 22.57% as against Sensex's 0.96% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Canara Bank's net profit fell 52.2% to Rs 228.95 crore on 3.8% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 66.3% stake in as per the shareholding pattern as on 30 June 2016.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Canara Bank gains on plans to raise capital

rose 1.12% to Rs 316.50 at 10:10 on after the bank said that the majority of the directors approved to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds.

The announcement was made after market hours on Friday, 14 October 2016.

Meanwhile, the S&P Sensex was up 40.32 points or 0.15% at 27,714.74.

On BSE, so far 74,834 shares were traded in the counter as against average daily volume of 4.32 lakh shares in the past one quarter. The stock hit a high of Rs 316.95 and a low of Rs 312.30 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock had outperformed the market over the past one month till 14 October 2016, rising 0.53% compared with Sensex's 2.46% fall. The scrip had also outperformed the market in past one quarter, surging 22.57% as against Sensex's 0.96% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

said that the majority of the directors have taken note of the contents and the recommendations of the bank in the circular note and consented to raise additional Tier-I capital funds through BASEL-III compliant additional Tier-I perpetual bonds in rupee terms domestically for an amount not exceeding Rs 2500 crore in single tranche or in tranches depending on the market conditions to maintain healthy capital to risk (weighted) assets ratio (CRAR), during the current financial year. A bond committee will be constituted to determine the structure of the issue size, tenor, coupon, timing of the issue, date of allotment, listing and other matters connected to the issue.

On 6 October 2016, the bank had proposed to circulate a note among the directors of the board of the bank in respect of raising additional funds through BASEL-III compliant additional Tier-I bonds in rupee terms.

Canara Bank's net profit fell 52.2% to Rs 228.95 crore on 3.8% decline in total income to Rs 11786.35 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 66.3% stake in as per the shareholding pattern as on 30 June 2016.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard