Canara Bank rallied 4.62% to Rs 545.35 after the state-run bank informed that its board is scheduled to meet on Monday, 26 February 2024, to consider the proposal of sub-division of the equity shares.
The proposal of stock split is subject to prior approval of Reserve Bank of India (RBI) and other statutory or regulatory or Government of India approvals, as may be required.Canara Bank is an Indian public sector bank. As on 31 December 2023, the bank has 9,585 number of branches, out of which 3,095 are rural 2,742 semi urban 1,906 urban & 1,842 metro along with 10,463 ATMs. The bank is also having 3 overseas branches in London, New York & Dubai.
The public lender reported 26.88% rise in net profit to Rs 3,656.12 crore on 23.33% increase in total income to Rs 32,333.93 crore in Q3 FY24 over Q3 FY23.
The counter hit a 52-week high of Rs 550.50 in todays intraday session.
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