Rakesh Jhunjhunwala-owned PSB stock hits 52-week high in a weak market

Canara Bank hit a 52-week high of Rs 178.90, up 3 per cent on the BSE in Friday's intra-day trade

Shares of Canara Bank hit a fresh 52-week high of Rs 178.90, up 3 per cent on the BSE in Friday’s intra-day trade, in an otherwise weak market. The market price of public sector undertaking (PSU) bank surpassed its previous high of Rs 177.40, touched in Thursday’s intra-day trade.

The stock was quoting higher for fifth straight day and has rallied 13 per cent during the period. In comparison, the S&P BSE Sensex was 0.72 per cent at 58,699 points at 01:38 pm. In the past one week, the benchmark index has recorded 2.2 per cent decline, data shows.