Canara Bank board approves capital raising plan of Rs 9000 cr
Canara Bank, the leading nationalised public sector bank, in its Board of Directors meeting, held today approved the Capital Raising Plan of the Bank for the Financial Year 2021-22 amounting up to Rs 9000 cr by way of Equity and Debt Instruments. Canara Bank share price today is Rs 161.9, up Rs 8.25 or 5.4%. Canara Bank share price has doubled from a 52-week low of Rs 80.40. The market cap of Canara Bank is Rs 26660 cr
Canara Bank’s Reported GNPA was flat at 8.9% vs. pro forma GNPA in Q3, mainly due to higher recovery and write-offs. The overall restructuring pool is low at 1.3% of loans, which is positive: Reuters