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Canara Bank Share Price Today Live Updates: Canara Bank Jumps 5% Post Stock Split; up 8% in Last Three Sessions.

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Canara Bank Live Share Price: A total of 7,39,996 retail investors owned 6 per cent stake in the bank while 337 HNIs including Rekha Rakesh Jhunjhuwala (1.45 per cent stake) owned a combined 4.65 per cent stake in the PSU lender.

119.50 INR+6.20 (5.47%)today

Open116.25
High119.55
Low116.00
Mkt cap21.70KCr
P/E ratio1.42
Div yield13.47%
52-wk high126.58
52-wk low58.27

Canara Bank Share Price Today Live Updates: Canara Bank’s stock opened at ₹557.4 and closed at ₹549.15 on the last trading day. The high for the day was ₹568.95, and the low was ₹554. The market capitalization stood at ₹102,725.13 crore. The 52-week high and low were ₹632.65 and ₹291.3, respectively. The BSE volume for the day was 487,986 shares traded.

Canara Bank Share Price Live Updates: Consensus analysts rating is Buy

Canara Bank Share Price Live Updates: The analyst recommendation trend is shown below with the current rating as Buy.

  • The median price target is ₹506.0, 325.93% higher than current market price.
  • The lowest target price among analyst estimates is ₹360.0
  • The highest target price among analyst estimates is ₹670.0
RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy6665
Buy3445
Hold1222
Sell2221
Strong Sell2000

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Canara Bank Share Price Today Live: Hourly Price Movement Update

Canara Bank Share Price Today Live: Canara Bank’s stock price reached a peak of 118.85 and a low of 118.15 in the previous trading hour. During that time, the stock price surpassed the hourly resistance of 118.58 (Resistance level 1), suggesting a positive upward trend.
The hourly support and resistance levels to watch out in the next hour are mentioned below.

Resistance LevelsPriceSupport LevelsPrice
Resistance 1119.02Support 1118.32
Resistance 2119.28Support 2117.88
Resistance 3119.72Support 3117.62

Canara Bank Share Price Live Updates: Simple Moving Average

DaysSimple Moving Average
5 Days111.11
10 Days117.33
20 Days118.44
50 Days116.90
100 Days107.50
300 Days90.39

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Canara Bank Share Price Live Updates: Canara Bank trading at ₹118.65, up 4.77% from yesterday’s ₹113.25

Canara Bank Share Price Live Updates: Canara Bank share price is at ₹118.65 and has crossed the key daily support price level of ₹543.87. This indicates that stock is experiencing significant selling pressure and the price can decline further.

Earlier this year on April 19, 2024 the public sector lender had set Wednesday, 15th May 2024 as the record date for determining entitlement of equity shareholders for the purpose of split of existing equity shares of the bank. The stock split arrangement was such that 1 equity share having face value of Rs. 10 each, will be subdivided into 5 equity shares having face value of Rs. 2 each.

A stock split makes the shares more affordable for retail investors, and the move is likely to increase trading activity on the counter. This could be particularly beneficial for smaller investors who may have been previously deterred by the higher share price.

Moreover, the stock split has the potential to broaden the bank’s retail investor base. Prior to the split, a significant portion of the bank’s ownership was held by a relatively small number of High Net Worth Individuals (HNIs), including notable investors like Rekha Rakesh Jhunjhunwala. 

It’s important to note that a stock split differs from a bonus share issue. In a stock split, existing shares are divided into multiple shares with smaller face values, while in a bonus share issue, additional shares are distributed to existing shareholders based on their current holdings. Therefore, while a stock split increases the number of shares outstanding, it does not directly impact the share capital of the company.

Canara Bank recorded a 18.33 per cent year-on-year growth to Rs 3,757 crore in January-March quarter of fiscal year 2023-24 (Q4FY24). The bank’s net interest income (NII), increased by 11.18 per cent to Rs 9,580 crore during the fourth quarter of FY24. The bank registered NII of Rs 8,617 crore in the same period of the previous year.
At 11:17 AM; the stock of the company was trading 4.55 per cent higher at Rs 118.40 per share. By comparison the S&P BSE Sensex was down mariginally by 0.04 per cent.

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SBI Q4 Results: Profit up 24% YoY to Rs 20,698 cr; Stock hits Record High.

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SBI Q4 results: State Bank of India (SBI), India’s largest state-owned bank, reported a standalone net profit of Rs 20,698.35 crore, up 24 percent year-on-year (Y-o-Y), on the back of higher interest income and low provisions.

The bank had reported a net profit of Rs 16,694.5 crore in the March quarter of the previous fiscal (Q4FY23).

The number beat analysts’ estimates by a wide margin, who had pegged PAT in the range of Rs 10,432 crore to Rs 14,743 crore. On the bourses, shares of SBI gained 3.6 percent in the intraday to hit a fresh record high of Rs 839.6 apiece. By comparison, the S&P BSE Sensex was down 1.2 percent at 2:40 PM.

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State Bank of India

Sequentially, SBI’s net profit more-than-doubled, zooming 125 per cent from Rs 9,163.96 crore posted in the December quarter of FY24 (Q3FY24).

For the entire financial year, net profit came in at Rs 61,077 crore, witnessing a growth of 21.59 percent Y-o-Y after accounting for wage settlement and a one-time exceptional item of Rs 7,100 crore.

SBI Q4 NII, NIM

Meanwhile, operationally, the net interest income (NII) of SBI rose 3 per cent Y-o-Y to Rs 41,656 crore, up from Rs 40,392.5 crore posted in Q4FY23.

Net interest margin (NIM) rose unexpectedly to 3.30 percent from  3.22 percent Q-o-Q. It was 3.60 percent in Q4FY23. 

Operating profit (before provisions and contingencies) came in at Rs 28,747 crore for the March quarter, up 16.7 percent from Rs 21,621 crore reported last year. In the December quarter, the operating profit was Rs 20,336 crore.

Operating profit for FY24 grew by 12.05 percent Y-o-Y to Rs 93,797 crore.

SBI Q4 dividend announcement

The Board of the Bank has declared a dividend of Rs 13.70 per equity share for the financial year ended 31.03.2024, The record date for determining the eligibility of shareholders, entitled to the dividend, has been fixed as Wednesday, May 22, 2024. The dividend payment date is fixed as June 5, 2024.

SBI Q4 asset quality and provisions

SBI’s total provisions for the March quarter declined to Rs 1,609.78 crore from Rs 3,315.7 crore in the year-ago period. These, however, increased sequentially from Rs 687.85 crore set aside in Q3FY24.

SBI reported slippages of Rs 3,984 crore, down from Rs 5,046 crore Q-o-Q.

Gross NPAs slipped marginally by 2.8 percent to Rs 84,276.3 crore from Rs 86,748.8 crore reported in Q3FY24. Every year, GNPA slipped from Rs 90,928 crore.

In percentage terms, the GNPA ratio improved to 2.24 percent in Q4FY24 vs 2.4 percent in Q3FY24 and 2.78 percent in Q4FY23.

Similarly, NNPAs, in absolute terms, declined to Rs 21,051 crore in Q4FY24 from Rs 21,467 crore Y-oY and Rs 22,408 crore Q-o-Q.

NNPA ratio, thus, came in at 0.57 percent in the quarter under study as against 0.67 percent Y-o-Y and 0.64 percent Q-o-Q.

Provision Coverage Ratio (PCR) stood at  75.02 percent at the end of FY24, with Slippage Ratio at 0.62 percent, and Credit Cost at 0.29 percent.

SBI Q4 loans and deposits

State Bank of India reported credit growth of 15.24 percent Y-o-Y at Rs 37.67 trillion, with domestic advances growing 16.26 percent Y-o-Y/5.1 percent Q-o-Q.

Corporate advances and agri-advances crossed Rs 1.1 trillion and Rs 3 trillion, respectively.  Apart, Retail Personal Advances and Corporate loans registered Y-o-Y growth of 14.68 percent and 16.17 percent, respectively.

On the deposit side, total deposits came at Rs 49.16 trillion, up 11.13 percent Y-o-Y/3.23 percent Q-o-Q.

Whole Bank Deposits grew at 11.13 percent Y-o-Y, out of which CASA Deposit grew by 4.25 percent Y-o-Y. CASA ratio stood at 41.11 percent at the end of March 2024.

HUDCO shares jumped 15% to a record high, while multi-bagger PSU stock has increased 369% in just a year.

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HUDCO shares have increased by 141% in 2023. This became the company’s second consecutive year of positive returns in a calendar year; in 2022, it had also gained 34%.

At a record high of ₹233.85 on Friday, shares of Housing & Urban Development Corporation Ltd. (HUDCO) increased by as much as 15%. On Friday, the stock increased for the sixth session in a row.

HUDCO shares Market Live

CompanyValueChange%Change
Tech Mahindra1,280.50₹90.207.58
Divis Labs4,032.60₹188.804.91
LTIMindtree4,790.90₹156.203.37
Bajaj Auto8,951.35₹216.452.48
BPCL610.20₹6.801.13

Other Indices

IndexValueChange%Change
SENSEX73,896.41-443.03-0.60
NIFTY 5022,452.50-117.85-0.52
NIFTY Midcap 10050,637.40408.900.81
NIFTY Smallcap 10016,979.2592.450.55
NIFTY NEXT 5064,147.90443.450.70

Global Indices

NameIndex ValueChange%ChangeOpenHighLow
DAXApr 2618057.61140.330.7817920.7318060.4917920.73
Hang SengApr 2617651.15366.612.0817336.2017758.2417336.20
Taiwan WeightedApr 2620120.51263.091.3120094.1720226.2920087.61
NasdaqApr 2515611.76-100.99-0.6515375.2615644.5115343.91

Share price of Bajaj Finance and Bajaj Finserv fell 8% today; here’s why.

With today’s surge, the state-run company has gained nearly 20% this week and is likely to post its best week since January this year.

HUDCO has had a strong start to 2024. The stock is up 24% in April, followed by an 11% advance in February and a 37% gain in January. The stock had declined 2% in March. On a year-to-date basis, the stock is up nearly 80%.

Shares of HUDCO had gained 141% in the calendar year 2023. This was the second straight year of positive returns in a calendar year for the company, having gained 34% in 2022 as well.

Based on the charts, the Relative Strength Index (RSI), which is currently at 73, indicates that the stock has entered overbought territory. When the RSI exceeds 70, it indicates that the stock has reached the “overbought” zone.

Strong volumes have also contributed to Friday’s advances. Compared to the 20-day average of 76 lakh shares, about 8.1 crore shares of the company had already been traded.

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HUDCO’s net profit for the December quarter increased to ₹519.2 crore, more than double. Additionally, revenue climbed by 18% for the quarter, reaching ₹2,012.66 crore. By the conclusion of the December quarter of the previous year, gross non-performing assets (NPA) had dropped to 3.14% from 4.27%.

The share price of HUDCO has increased 371% in the last twelve months. The Indian government also recently bestowed a “Navratna” classification upon the stock. The stock’s market capitalization, which is currently at ₹46,454 crore, has increased to around ₹50,000 crores as a result of this jump.

Vodafone Idea: Rs. 18 billion FPO begins on April 18 with a floor price of Rs 10.

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Vodafone Idea: Launching a Rs. 18 billion FPO to Start on a Path to Financial Revival

The telecom company Vodafone Idea announced on April 12 that subscriptions for its Rs 18,000-crore follow-on public offer (FPO) would begin on April 18. A floor price of Rs 10 per share and a ceiling of Rs 11 have been set for the issue.

The deal expires on April 22. The company stated in an exchange filing that the anchor bids will be accepted on April 16.

April 10 Vodafone Idea was preparing to start an FPO to raise Rs 18,000–20,000 crore. As lead managers for the FPO—the biggest offers of its kind in India—the indebted company has brought on Jefferies, SBI Caps, and Axis Capital.

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A minimum bid lot of 1,298 equity shares is available to investors. For one batch of shares in the FPO, the minimum application amount, depending on the top end of the price band, is Rs 14,278. After that, bids in multiples of 1,298 equity shares are accepted from investors.

The company’s board approved raising Rs 20,000 crore via stock on February 27, which led to the FPO.

Preferential shares were recently issued by the company to Oriana Investments Pte Ltd, a promoter entity within the Aditya Birla Group, to raise a total of Rs 2,075 crore.

At Rs 14.87 a share, the shares were issued, representing a 40% increase over the FPO floor price.

The telecom operator is rumored to be in talks with banks to arrange loan finance in addition to the Rs 20,000 crore equity fundraise, bringing the total fundraise to Rs 45,000 crore when debt and equity are combined.

Brokerage CLSA recently stated that Vodafone Idea’s shares could drop to Rs 5 following the company’s 17 million subscriber loss over the previous 12 months.

Beyond its capex and 5G rollout, Vodafone Idea may face a financial crunch in fiscal year 2026 when annual spectrum and AGR payments worth up to $4 billion will fall due unless the government converts debt principal to equity at the end of the moratorium, it said.

The brokerage maintained its “sell” rating on the stock.

Shares of Vodafone Idea have doubled over the last 12 months, though the stock has corrected 30 percent from its recent peak.

For the April 12 session, the stock is in the F&O ban, which means no new positions can be created in the stock.

At 9.35 am, shares of Vodafone Idea were trading 2 percent lower at Rs 12.65 on the National Stock Exchange.

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