Canara Bank reverses intraday gain after declaring Q1 result

Canara Bank fell 1.24% to Rs 406.95 at 14:02 IST on BSE, with the stock reversing intraday gain in volatile trade after the state-run bank declared Q1 result during market hours today, 21 July 2014.

Meanwhile, the S&P BSE Sensex was up 101.76 points or 0.4% at 25,743.32

On BSE, so far 3.02 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.31% at the day's high of Rs 421.60 so far during the day. The stock hit fell as much as 2.11% the day's low of Rs 403.35 so far during the day. The stock hit a 52-week high of Rs 498 on 9 June 2013. The stock hit a 52-week low of Rs 189.90 on 28 August 2013.

The stock had underperformed the market over the past one month till 18 July 2014, falling 6.63% compared with Sensex's 1.57% rise. The scrip, however, outperformed the market in past one quarter, advancing 49.70% as against Sensex's 13.31% rise.

The large-cap company has an equity capital of Rs 461.26 crore. Face value per share is Rs 10.

Canara Bank reported 1.86% rise in net profit to Rs 806.86 crore on 11.61% rise in total income to Rs 11728.01 crore in Q1 June 2014 over Q1 June 2013.

Canara Bank's provisions and contingencies fell 13.97% to Rs 788.14 crore in Q1 June 2014 over Q1 June 2013.

Canara Bank's ratio of net non-performing assets (NPA) to net advances stood at 2.03% as on 30 June 2014, higher than 1.98% as on 31 March 2014 but lower than 2.48% as on 30 June 2013.

The bank's ratio of gross NPA to gross advances stood at 2.67% as on 30 June 2014, compared with 2.49% as on 31 March 2014 and 2.91% as on 30 June 2013.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.23% as on 30 June 2014 as against 10.63% as on 31 March 2014.

The Government of India (GoI) holds 69% stake in Canara Bank (as per the shareholding pattern as on 30 June 2014).

Powered by Capital Market - Live News