Canara Bank shares surge as asset quality improves

Reuters Market Eye - Shares in Canara Bank Ltd end up 6.57 percent after the state-run lenders' net non-performing loans fell to 1.98 percent during the January-March quarter from 2.39 percent in the previous quarter.

Analysts say Canara's bad debt fell after the lender sold some non-performing loans.

Canara's March-quarter net profit fell a smaller-than-expected 16 percent to 6.11 billion rupees ($101.48 million) from a year earlier, the lender said on Monday.

($1 = 60.2100 rupees)

(Abhishek Vishnoi)