Canara Bank to consider fund raising on 10 July

Canara Bank said that the meeting of the board of directors of the bank is scheduled on 10 July 2020 to consider the capital raising plan of the bank for the year 2020-21.

The announcement was made after market hours yesterday, 6 July 2020. Shares of Canara Bank settled 1.8% higher at Rs 104.85 yesterday.

The stock hit a 52-week high of Rs 296.5 on 05 July 2019. The stock hit a 52-week low of Rs 73.85 on 24 March 2020.

The stock had underperformed the market over the past one month, up 4.17% compared with 6.16% rise in the Sensex. The scrip underperformed the market in past one quarter, up 20.86% as against Sensex's 21.35% rise. The scrip had also underperformed the market in past one year, down 61.10% as against Sensex's 5.77% fall.

Canara Bank reported net loss of Rs 3,259.33 crore in Q4 March 2020 as against net loss of Rs 551.53 crore in Q4 March 2019. Total income rose 1.6% to Rs 14,222.39 crore.

Canara Bank is a state-owned commercial bank with headquarters in Bangalore. The Government of India held 78.52% stake in the bank as of 31 March 2020.

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