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Canara Bank drops after weak Q3 results (13:44, 27 Jan 2012)

The state-run bank announced the results during trading hours today, 27 January 2012.

Meanwhile, the BSE Sensex was up 87.67 points, or 0.51% to 17,164.85.

On BSE, 2.20 lakh shares were traded in the counter as against average daily volume of 91,294 shares in the past one quarter.

The stock hit a high of Rs 482.75 and a low of Rs 458.50 so far during the day. The stock had hit a 52-week low of Rs 349.05 on 27 December 2011. The stock had hit a 52-week high of Rs 667.90 on 18 April 2011.

The large-cap stock had outperformed the market over the past one month till 25 January 2012, rising 32.2% compared with Sensex's 8.5% rise. The scrip had also outperformed the market over the past one quarter, gaining 8.7% as against Sensex's 1.03% fall.

The state-run bank has equity capital of Rs 443 crore. Face value per share is Rs 10.

The Canara Bank stock had witnessed a pre-result rally. The stock had jumped 17.8% in five trading sessions to settle at Rs 479.95 on Wednesday, 25 January 2012, from a recent low of Rs 407.35 on 18 January 2012.

Canara Bank's capital adequacy ratio (CAR) stood at 13.22% as on 31 December 2011, compared with 13.02% as on 31 December 2010. The bank's gross non-performing assets (NPA) ratio stood at 1.81% of gross advances as on 31 December 2011, higher than 1.73% as on 30 September 2011 and 1.44 % as on 31 December 2010. The net NPA ratio stood at 1.49% as on 31 December 2011, higher than 1.43% as on 30 September 2011 and 1.05% as on 31 December 2010.

The Government of India (GoI) holds 67.72% stake in the bank (as on 31 December 2011).

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