By Admin 
Canara Bank 52 Week High: A huge jump was seen in the shares of Canara Bank in the first trading session of the week on Monday, 3 November. At the close of trading on NSE, this PSU banking stock saw a rise of 1.97 percent. The price of bank shares reached Rs 139.69. During the trading day, the bank’s shares had reached its 52-week high level of Rs 141.45.
If we talk about the last three days, a rise of 10 percent has been seen in the bank’s shares. Market experts believe that the reason behind this rise could be the recently released second quarter results. According to the second quarter results, the bank has made a net profit of Rs 4,774 crore. Which is 19 percent more than this period last year. Last year at this time the net profit of the bank was Rs 4,014 crore.
What do the statistics say?,
Recently Canara Bank had announced its second quarter results. The results of the bank clearly show that the net profit of the bank has increased. The net profit of the bank in the second quarter was Rs 4,774 crore. However, there has been a slight decline in the net interest income of the bank. It was Rs 9,315 crore in this quarter of last year, which has come down to Rs 9,141 crore this year.
Reason for rise in bank shares
This time good performance has been seen in the loan, deposit and other services of the bank. The total global business of the bank is also growing rapidly. Which has increased by 13.55 percent compared to last year and has reached the figure of Rs 26.79 lakh crore. Due to which global deposits i.e. total deposits of customers also increased by 13.40 percent and it reached the figure of Rs 15.28 lakh crore.
The bank has also made good improvements in the matter of loan recovery. The bank’s gross NPA i.e. total bad loans has reduced by 138 basis points to only 2.35 percent, which shows improvement in its asset quality. Besides, there is also a decline in the NPS rate of the bank.
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