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Canara Bank Share Price

NSE Symbol: CANBK | BSE Code: 532483


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Canara Bank Share Price Performance

Canara Bank Stock Price Trends in 2018:

In January 2018, the stock began at Rs.360 and had plummeted to about Rs.258 by 25 July 2018. The stock followed a downward trend mostly throughout this period.

The stock remained sustained at more than Rs.350 till 15 January 2018, when it was dropped. This drop was not steep and did not stay for long. The stock recovered and crossed the mark of Rs.350. Then, the stock fell again by month end to close at around Rs.341.

February 2018 saw the drop down in stocks some more,  thus opening price was at Rs.329 in the starting of the month, and the share price closed at about Rs.299 by the month end.

 In March the Canara Bank share price opened at an even lower rate than February. The opening price for the March was Rs.290. The first week of the March saw a steep drop in prices with the stock going down below Rs.250, which was closer to Rs.235. The stock recovered a little till the month end at  Rs.263.

The stock held constant at Rs.250 for the entire month of April 2018. The stock even touched a high at Rs.287 but dropped again at Rs.265.

In May 2018, the stock plummeted below Rs.250 in the second week and did not regain a price over the mark of Rs.250 until 25 May 2018. The stock then held constant at Rs.250 for the remaining month but did not reach the Rs.260 mark. The closing price for the May was at Rs.257.

For the entire June 2018, the Canara Bank share price held constant over the Rs.250. The stock didn't recover to its previous levels. The stock even briefly dropped below the Rs.250 twice towards the month end. The closing Canara Bank share price for June 2018 was at Rs.251.

The stock opened below  Rs.250 in July 2018. The stock continued to have a price which was lower than it was in the previous months. The lowest price the stock had reached for the month was at Rs.222, but the capital recovered from that slump. By 24th July 2018, the stock had regained the share price of over Rs.250.  

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In January 2016, the stock began at around Rs.231 and closed at Rs.255 in December 2016. For about six months, the stock was on a downward trend until the end of December.

In January 2016, the stock started at around Rs.231, but it has plummeted in a steep dive. Before the close of the second week of the month, the Canara Bank share price had fallen below the Rs.200 mark. The lowest cost of the stock for that particular month was around Rs.166. The stock then soared up against a little towards the month end but did not reach the Rs.200 mark. The Canara Bank share price closed at about Rs.188 for the month.

From the starting of February 2016 to the end of March 2016, the stock continued to a price which was lower than Rs.200. The closing price of the share in February was about Rs.154, and in March 2016 the share price was at Rs.175. The highest Canara Bank share price in February was  Rs.191, which lasted for a day. The highest stock price in March 2016 was at Rs.187.

In April 2016, the stock began at Rs.193. For most of the month, the price continued to stay below Rs.200. It had soared towards the end of the month on 22 April 2016 when the stock breached the mark of Rs.200by about Rs.2. The stock dipped to Rs.200 by the month end. In May 2016, the stock slumped below Rs.200  and subsequently followed a downward trend for the remaining month. The stock soared a little to close at about Rs.200 by the end of May 2016. In June, the stock dropped below Rs.200. A downward trend was noticed around 13 June 2016 after which the stock took an exponential turn. The stock had breached the Rs.200 mark by 20th June, and it did not drop below that price for the rest of the year. The Canara Bank share price closed at about Rs.212 at the month end.

By 20 July 2016, the stock breached the Rs.250 mark. The share price fluctuated a lot during the end of July, closing the month at around Rs.243. In  August 2016, the stock shifted a lot during the first two weeks but started a steady upward climb from 17 August 2016. The stock closed for August at about Rs.272. On 30 September 2016, the closing price of the stock was at Rs.299.

 On 5th October 2016, the stock achieved growth of about Rs.325. The stock dropped lower than Rs.300 briefly in this month but recovered a price of more than Rs.300 again. The stock closed at about Rs.305 by the month end. The November 2016 saw the stock dropping down sharply to below Rs.300, but the stock soared almost instantaneously. The stock dropped once again below Rs.300 but the month ended at around Rs.309. In December 2016, while the stock opened at a higher price than Rs.300, the stock dropped to below that mark by the end of the second week of the month. After that, the stock continued on the downward trend for the remaining year. It closed at around Rs.253 for the year 2016.

In January 2017, the Canara Bank share price started at about Rs.255 and closed at about Rs.360 by the December 2017 end. It was on a steady and upward trend in 12 months. The shares even soared to above Rs.400 in price at certain points during the year but did not sustain that level.

Information About Canara Bank:

The Canara Bank is a public sector bank based in Bangalore, India. As of March 2018, the segregation of the shareholding pattern of the bank implies that the GOI owns 72.55% of the bank. The bank provides services such as private banking, credit cards, consumer banking, asset management,  and investment banking among other services. It has many subsidiary companies such as Canara Robeco Asset Management Company Limited,  Canfin Homes Limited, Canbank Venture Capital Fund Limited, and so on.

Company History:

In the year 1906, the Ammembal Subba Rao Pai founded this bank as “Canara Hindu Permanent Fund” in Mangalore. It was established in the year 1910, and during this time, the bank renamed itself as Canara Bank Limited. At the beginning of 1961, the bank commenced many acquisitions. The acquisitions were mostly of small banks in the southern part of India.  In 1969, the GOI nationalized the bank. By 1976, the bank had expanded to 1,000 branches. Eventually, the bank had incorporated offices overseas in global financial hubs as well. In 1983, the first international branch of the Canara bank was opened in London. After this, the bank began other offices in New York, Hong Kong, and other financial centers around the world.

Listings of Canara Bank Stocks in NSE, BSE, and Other Indices:

The codes are as follows:

BSE - 532483


SECT - Banks

IND - Finance - Banks - Public Sector

ISIN Code - INE476A01014

The bank has been a part of indices like the  S&P BSE 200, Nifty 200 and Nifty 500.

Why Invest In Canara Bank?

Before investing in Canara Bank, the following points should be considered:

  1. It is a state-owned bank.
  2. It has offices all over India and even in some of the international centers.
  3. The bank has shown an exponential trend in business over each quarter of the financial year 2017–2018.
  4. Total current, savings, and CASA deposits have been increased from March 2017 to March 2018.
  5. The total expenses of the Canara Bank have been reduced from Rs.41,751 crore in March 2016 to Rs.40,028 in March 2017 to Rs.38,647 crore in 2018.
  6. The operating profit has been increased from Rs.7,147 crore in March 2016 to Rs.8,914 crore in March 2017 to Rs.9,548 crore in March 2018.
  7. The bank has shifted its focus to digital banking and self-service kiosks.
  8. The total number of e-transactions has been increased from Fiscal 17 to FY18.
  9. The branches have been increased to provide the customers with better banking solutions access.  As of March 2018, the bank had 6,204 offices.
  10. There has been a 6% increase year-over-year in the total number of deposit accounts.
  11. Similarly, there has been a 7.3% inclination in the borrower accounts from March 2017 to March 2018.

While all these are the indications of amazing future performance, it would be better to invest in Canara Bank shares after doing adequate personal research based on financial commitments, risk appetites, and interests.

Get your free Credit report that cost  Rs 1200  for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

Get your free Credit report that cost  Rs 1200  for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs