Canara bank to announce stock split | PSU bank latest news | Date and expectations

Описание: Canara Bank has just announced a stock split consideration. Here are all details:

In the past few days, we have been witnessing a rally in PSU banks, and now the government-owned Canara Bank has announced a stock split consideration. Along with an increase in share price, the stock has also hit its 52-week high. In today's video, we will discuss Canara Bank's stock split.

Canara Bank is all set to consider its stock split on February 26th. Stock split means that the company will reduce the face value of its shares, resulting in a proportionate decrease in the share price.

In the December quarter, the public sector lender declared a net profit of Rs 3656 crore, surpassing the street estimates. This was a year-on-year jump of 26%. Additionally, the bank's gross NPAs came in at 4.39 percent, down from 5.89 percent last year.

Following this announcement, the bank's shares surged by almost 5%. So far in 2023, Canara Bank's share price has risen by nearly 28%.

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