Canara Bank advances after revising deposit interest rates

Canara Bank gained 0.82% to Rs 326.35 14:45 IST on BSE after the bank revised deposit interest rates in different maturities in retail and bulk deposits in the range of 0.05% to 0.25%, effective from 21 November 2016.

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 51.55 points or 0.22% at 26,170.77.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 3.41 lakh shares in the past one quarter. The stock hit a high of Rs 329.80 and a low of Rs 323.75 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 outperformed the market over the past one month till 17 November 2016, gaining 6.08% compared with 4.73% decline in the Sensex. The scrip also outperformed the market in past one quarter, rising 24.57% as against Sensex's 6.35% decline.

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

Canara Bank's net profit fell 32.5% to Rs 356.91 crore on 2.3% decline in total income to Rs 12187.12 crore in Q2 September 2016 over Q2 September 2015.

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

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