The Canara Bank scrip rose to Rs 173.05 on Friday, up 3.87 per cent, after the Reserve Bank of India (RBI) cut the Cash Reserve Ratio (CRR) or the amount of money that banks have to keep with the central bank by 100 basis points.
Early this week, the central bank had slashed CRR by 50 basis points to soothe the markets hit by a cash crunch. Over 300,000 shares changed hands on the Bombay Stock Exchange on Friday. Shares rose to a high of Rs 177 in intra-day trading.
