Canara Bank Share Price, Canara Bank Share Current Price, Canara Bank Share Symbol, Canara Bank Change Share INR, Canara Bank Share PE Ratio, Canara Bank Share Market Cap, Canara Bank Share Dividend Yield
Sure, here are the full details of Canara Bank share price as of 06:00:12 PST on July 30, 2023:
- Symbol: CANBK
- Exchange: NSE, BSE
- Current Price: 344.80 INR
- Change: +0.00 INR (0.00%)
- Volume: 64,01,817
- Market Cap: 62,551 crores INR
- PE Ratio: 4.88
- EPS: 70.63 INR
- Dividend Yield: 3.48%
Canara Bank is a public sector bank in India. It is one of the largest banks in India by market capitalization. The bank’s share price has been on an upward trend in recent months, and it is currently trading at a premium to its book value.
Here are some of the factors that have contributed to the recent rise in Canara Bank’s share price:
- Strong financial performance: The bank has reported strong financial performance in recent quarters. Its net profit has increased by double digits in the past two years.
- Improved asset quality: The bank’s asset quality has improved in recent quarters. Its gross non-performing assets (NPAs) have declined, and its provision coverage ratio has increased.
- Increased investor confidence: Investor confidence in the bank has increased in recent months. This is due to the bank’s strong financial performance and improved asset quality.
However, there are also some risks to consider before investing in Canara Bank shares:
- Interest rate risk: The bank’s profitability is sensitive to interest rate changes. If interest rates rise, the bank’s net interest income could decline.
- Credit risk: The bank’s asset quality could deteriorate if the economy weakens. This could lead to an increase in NPAs and provisioning requirements.
- Political risk: The bank’s operations could be affected by political instability in India.
Overall, Canara Bank is a well-managed bank with a strong financial performance. However, there are some risks to consider before investing in its shares. Investors should carefully evaluate these risks before making an investment decision.
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