Canara bank merged with Syndicate bank effective from 1st April 2020. Post merger, it became the 4th largest PSU bank in India.
Then its branch network increased by 4,000 branches and 4,500 ATMs.
Presently, the bank operates 10,500 branches and 13,000 ATMs across India. It also operates 5 international branches in overseas countries.
45% of its branches are located in southern region of India and 60% of its branches are located in rural and semi-urban parts of India.
Significant Subsidiaries Operations:
1. Canara Robeco Asset Management Co Ltd (51% stake)
2. Canara Bank Securities Ltd
3. Canara HSBC OBC Life Insurance Company Ltd (51% stake)
4. CanFin Homes Ltd (30% stake)
For details, visit https://www.screener.in/company/CANBK/co...
Capital Adequacy Ratio - 13.69%
Net Interest Margin - 2.80%
Gross NPA - 7.46%
Net NPA - 2.64%
CASA Ratio - 33.41%
Book value - 386
Technically chart is forming a potential Cup with Handle pattern.
Best to accumulate around 140-160 levels for the following targets:
Medium term swing target @ 315 (110% ROI with 5.5 R:R)
Long term positional target @ 480 (220% ROI with 11 R:R)
Long term positional target @ 600 (300% ROI with 15 R:R)
Stop loss optional @ 120
Do your own due diligence before taking any action.