Canara Bank gains on robust Q3 results

Canara Bank rose 3.51% to Rs 454.20 at 15:00 IST on BSE after the bank reported 60.24% rise in net profit to Rs 655.97 crore on 11.82% rise in total income to Rs 12227.86 crore in Q3 December 2014 over Q3 December 2013.

The bank announced Q3 result during market hours today, 4 February 2015.

Meanwhile, the BSE Sensex was up 30.70 points, or 0.11%, to 29,030.84.

On BSE, so far 9.63 lakh shares were traded in the counter, compared with an average volume of 2.04 lakh shares in the past one quarter.

Shares of PSU bank hit a high of Rs 457.90 and a low of Rs 421.30 so far during the day. The stock hit a 52-week high of Rs 498 on 9 June 2014. The stock hit a 52-week low of Rs 209 on 14 February 2014.

Canara Bank's ratio of net non-performing assets (NPAs) to net advances stood at 2.42% as on 31 December 2014, compared with 2.31% as on 30 September 2014 and 2.39% as on 31 December 2013.

The bank's ratio of gross NPAs to gross advances rose to 3.35% as on 31 December 2014, compared with 2.92% as on 30 September 2014 and 2.79% as on 31 December 2013.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 9.87% as on 31 December 2014, compared with 10.19% as on 30 September 2014 and 9.83% as on 31 December 2013.

The government of India holds 69% stake in the bank as at 31 December 2014.

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