Canara Bank trades higher on the bourses

Canara Bank is currently trading at Rs. 458.30, up by 7.65 points or 1.70% from its previous closing of Rs. 450.65 on the BSE. The scrip opened at Rs. 453.95 and has touched a high and low of Rs. 462.05 and Rs. 449.20 respectively. So far 269193 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 491.55 on 26-May-2014 and a 52 week low of Rs. 189.90 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 462.05 and Rs. 412.00 respectively. The current market cap of the company is Rs. 21137.19 crore. The promoters holding in the company stood at 69.00% while Institutions and Non-Institutions held 22.06% and 8.94% respectively. Canara Bank, a leading nationalized bank, is planning to upgrade at least 600 branches to 5-star category to meet international standards. These new branches will offer the customers all the banking products under one roof and provide greater access to a wide range of services. As part of this plan, the bank had recently opened two branches in Bangalore and Tumkur. Canara Bank has posted a fall of 15.79% in its net profit at Rs 610.83 crore for the quarter ended March 31, 2014, as compared to Rs 725.38 crore for the same quarter in the previous year. However, total income of the bank has increased by 22.57% at Rs 11609.72 crore for quarter under review as compared to Rs 9471.57 crore for the quarter ended March 31, 2013.