Canara Bank Shares jump 7%, Hit 52-Week High After Reporting 43% Hike In Net Profit

Canara Bank Shares jump 7%, Hit 52-Week High After Reporting 43% Hike In Net Profit

Meanwhile, the 30-share BSE Sensex jumped 613.63 to 63,761.78 points, while NSE Nifty rose 164.45 to 19,021.70 points.

PTIUpdated: Friday, October 27, 2023, 03:09 PM IST
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Canara Bank Shares jump 7%, Hit 52-Week High After Reporting 43% Hike In Net Profit | Representative Image

Shares of Canara Bank on Friday rallied 7 per cent a day after the company reported a 43 per cent rise in net profit for the September quarter.

Further, the stock hit its fresh 52-week high of Rs 387.80 and Rs 387.70 apiece on the NSE and BSE, respectively.

In afternoon trade, the stock of the Bengaluru-based public sector bank advanced 6.80 per cent to Rs 383.80 apiece on the NSE.

On the BSE, Canara Bank's shares climbed 6.59 per cent to Rs 383.55 per piece.

Meanwhile, the 30-share BSE Sensex jumped 613.63 to 63,761.78 points, while NSE Nifty rose 164.45 to 19,021.70 points.

Canara Bank said on Thursday reported a 43 per cent rise in net profit to Rs 3,606 crore during the September quarter on higher interest income and lower provisioning.

The bank posted a net profit of Rs 2,525 crore in the July-September quarter of 2022-23 fiscal.

Its net interest income grew 19.76 per cent to Rs 8,903 crore, it said.

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