Canara Bank lost 4.6% to Rs 192.85 at 12:26 IST on BSE after the state-run bank announced a 25 to 75 basis points hike in deposit rates on domestic and NRE term deposits on some maturities to be effective from 28 August 2013.
The announcement was made after market hours on Tuesday, 27 August 2013.
Meanwhile, the S&P BSE Sensex was down 320.41 points or 1.78% at 17,647.67.
On BSE, 1.58 lakh shares were traded in the counter as against average daily volume of 1.43 lakh shares in the past one quarter.
The stock hit a low of Rs 189.90 so far during the day, which is also its 52-week low for the counter. The stock hit a high of Rs 199.70 so far during the day. The stock had hit a 52-week high of Rs 550 on 14 January 2013.
The stock had underperformed the market over the past one month till 27 August 2013, declining 24.88% compared with the Sensex's 9.01% fall. The scrip had also underperformed the market in past one quarter, sliding 52.94% as against Sensex's 10.3% fall.
The state-run bank has equity capital of Rs 443 crore. Face value per share is Rs 10.
Earlier, Canara Bank had hiked interest rates on domestic and NRO term deposits by 130 to 175 basis points on term deposits of short term maturities with effect from 20 August 2013.
Canara Bank's net profit rose 2.2% to Rs 792.07 crore on 14.6% growth in total income to Rs 10507.88 crore in Q1 June 2013 over Q1 June 2012.
The Government of India (GoI) holds 67.72% stake in Canara Bank (as per the shareholding pattern as on 30 June 2013).
Powered by Capital Market - Live News
