Canara Bank zooms on aiming to achieve aggregate business of Rs 8.50 lakh crore

Canara Bank is currently trading at Rs. 442.25, up by 27.10 points or 6.53% from its previous closing of Rs. 415.15 on the BSE. The scrip opened at Rs. 419.00 and has touched a high and low of Rs. 443.25 and Rs. 417.50 respectively. So far 357347 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. 491.55 and Rs. 406.00 respectively. The current market cap of the company is Rs. 19788.00 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 is aiming to achieve aggregate business of Rs 8.50 lakh crore with a deposit growth of 16-17% and advances growth of 19-20% by March 2015. Moreover, the public sector lender will be adding 1250 branches this year, including 100 in Kerala, to increase its branch strength from 4,755 to 6,000 and ATMs from 6,312 to 10,000 by March next year. During 2013-14 fiscal, the bank's business had touched Rs 7.22 lakh crore. Moreover, the public sector lender registered a 20.7% growth, opened 1,027 branches of which 80% was in rural and semi urban areas. Further, the bank would be opening a branch at Johannesburg in South Africa and is planning to open branches at New York by June this year and 8 other international centres, including Dubai, Qatar, Frankfurt, Sao Paulo, Dar-es-Salaam and Tokyo, by march next.