Canara Bank board to mull fund raising on 24 June

The state-run bank on Wednesday said that its board will meet on 24 June 2022 to consider and approve the capital raising plan for the financial year 2022-23.

Shares of Canara Bank declined 0.29% to Rs 190.10, extending losses for the third trading session. It has fallen 8.63% in three trading sessions from its recent closing high of Rs 208.05 on 10 June 2022.

In the past one year, the stock has jumped 23.04% while the benchmark Sensex declined 0.03% during the same period.

On the daily chart, the stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 215.81, 223.78 and 209.52, respectively. These levels will act as crucial resistance zones in near term.

 

Canara Bank is a public sector bank. As of 31 March 2022, the Government of India held 62.93% in the bank.

The bank reported a 64.8% jump in standalone net profit to Rs 1,666.22 on 6.1% rise in total income to Rs 22,323.11 crore in Q4 FY22 over Q4 FY21.

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