Canara Bank trades in pink of its health in early deals on BSE

Canara Bank is currently trading at Rs. 487.15, up by 5.70 points or 1.18 % from its previous closing of Rs. 481.45 on the BSE. The scrip opened at Rs. 475.30 and has touched a high and low of Rs. 490.40 and Rs. 475.30 respectively. So far 117666 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 498.00 on 09-Jun-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. 498.00 and Rs. 432.20 respectively. The current market cap of the company is Rs. 22560.17 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, has expanded its footprints in the overseas market by opening its new branch at New York, USA. This will be the bank’s seventh overseas branch after London, Leicester (UK), Hong Kong, Shanghai, Bahrain and Johannesburg. In addition to overseas branches, the bank has a representative office at Sharjah and a joint venture bank in Moscow. With the inauguration of New York branch, the bank now has presence in eight countries, namely, UK, US, Hong Kong, China, Bahrain, South Africa, UAE and Russia. The overseas business of the bank stood at 5.72% as of March 31, 2014 and is projected to increase to 10% by the end of FY’15. During the current financial year, the bank is also planning to open branches/offices in Germany, Dubai, Brazil, Tanzania, Japan, Nigeria and Qatar.