QIP, Jhunjhunwala stake buy: Canara Bank can rise 31% from here, charts say

Canara Bank has been in the news recently in the backdrop of the bank raising Rs 2,500 crore via a qualified institutional placement (QIP), with a floor price at Rs 155.58 per equity share. That apart, Rakesh Jhunjhunwala has picked a 1.59 per cent stake in the state-owned lender, latest shareholding pattern data showed.

"The meeting of the sub-committee of the board - Capital Planning Process of the Board of Directors of the bank approved the closure of the issue period for QIP today (August 23, 2021)," Canara Bank had said in a regulatory filing earlier this