Espresso shot of the day – Canara Bank up by 9.83 percent

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Espresso shot of the day – Canara Bank up by 9.83 percent

October 29, 2021
Espresso shot of the day – Canara Bank up by 9.83 percent

CANARA BANK 214.50  (+9.83%) BSE – INE476A01014 | 29TH OCTOBER 2021

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry.

Recent Drivers

  • On Oct 29, 2021, The Company reported quarterly Net Profit of Rs. 1,332.61 crores in September 2021 
  • On Oct 25, 2021, State-owned Canara Bank said it raised Rs 1,500 crores by issuing Basel-III compliant bonds.
  • On Oct 5, 2021, The bank decided to reduce the MCLR for one-year tenor by 10 basis points to 7.25% effective from October 7.
  • On Sep 29, 2021, Canara Bank announced that CRISIL Ratings has upgraded the Bank's Tier I Bonds (under Basel III) to 'CRISIL AA+/Stable' from 'CRISIL AA/Stable'.
  • On Aug 30, 2021, the Government extended the tenure of two executive directors of Canara Bank for 2 Years.
  • On Aug 23, 2021, Honda Cars India Ltd (HCIL) joined hands with Canara Bank to offer retail finance schemes to customers.
  • On Aug 23, 2021, Canara bank closed the qualified institutions placement (QIP) of Rs 2500 crores, setting the floor price at Rs 155.58 per equity share.
(Sources: The Economic Times, Moneycontrol, livemint, Business Standard )


Technical Force*

  • S&P BSE 200 month till date gain up by 0.29 %
  • Traded on new 52 Week High Value 218.60
  • Spurt in volume by more than 1.44 times compares to previous vol. 3 months avg qty: 11,98,217
  • Quantity traded: 35,54,233 | Deliverable quantity: 8,01,835 (22.56%)
  • Stock price has jumped more than 150 % from one-year low level: 84.40 (Oct 29, 2020)
  • Daily RSI (14) is near Overbought territory today
  • 52-week-high: 218.60 | 52-week-low: 84.40


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

370.83

300.42

214.68

144.27

58.53

-

-

-

Fibonacci Pivot

300.42

240.77

203.92

180.18

144.27

108.35

84.62

47.77

-


Today’s Close

241.50

SMA

BSE

10 DAY

198.97

20 DAY

189.93

50 DAY

171.04

200 DAY

155.42


Some Key Ratios (Source: BSE)

Market Cap: 38,913.09 crores

PE: 9.23

OPM%: -

ROE%: 6.60

Promoters holding%: 62.93

Prev. Close: 195.30


Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.