Apr 05, 2024, 01:46:56 PM ISTIndian shares were flat on Friday, paring earlier losses as real estate stocks got a boost from the country’s central bank standing pat on rates, while IT stocks dropped amid uncertainty around US interest rate cuts. Meanwhile, in today’s trading session, six stocks from the Nifty200 index reached new 52-week highs. Here’s the list:ETMarkets.com2/7Ipca Laboratories | New 52-week high: Rs 1,321.6In the last year, the stock has gained 62%.ETMarkets.com3/7Oberoi Realty | New 52-week high: Rs 1,586.8In the last year, the stock has risen 83%ETMarkets.com4/7PB Fintech | New 52-week high: Rs 1,272.7In the last year, the stock has advanced…
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Category: Canara Bank
Make your life big, not just secure, says Canara HSBC Life Insurance – Exchange4Media
Make your life big, not just secure, says Canara HSBC Life Insurance Exchange4Media
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Auto shares, Canara Bank, NTPC, HAL to remain in focus
SummaryBenchmark Indices – NIFTY50 (+0.69%) and SENSEX (+0.58%) – opened in green on April 1, 2023. Out of the NIFTY50 space, 48 stocks were advancing. Hindalco, JSW Steel, and Infosys were among top gainers.The Indian benchmark indices opened in green on Monday, April 1. NIFTY 50 opened 128 points higher, marking a solid positive start for FY25. Today’s strong market opening is led by banking and financial services like SBI (+2.5%), ICICI Bank (+1%) and construction major L&T (+1.5%). The BSE Sensex is also gaining momentum as the index is trading more than 500 points higher at 74,124 levels at 9:20 am.
Broader indices, too, are moving higher and have a stronger momentum. The…
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Fitch affirms ‘BBB-‘ rating for SBI, Canara Bank; outlook stable
SummaryAccording to Fitch, SBI’s appetite for risk has been higher than is typical for a bank with its market position, despite total loan growth slowing to 14.5% YoY in the April-December period of FY24, as against a growth of 16% in FY23. In Canara Bank’s case, Fitch sees a return in its appetite for loan growth, which has averaged at around 13% since FY21.Fitch Ratings has affirmed the long-term issuer default rating (IDR) as “BBB-” for the State Bank of India (SBI) and Canara Bank, as per a note issued on its website on Tuesday, April 16. The ratings agency also maintained its “stable” outlook for both the state-run lenders.
The IDR rating of BBB- denotes that the banks…
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Canara HSBC Life Insurance reports 9-fold jump in profit at Rs 91 cr in FY23 – Banking & Finance News
Canara HSBC Life Insurance on Thursday reported a nearly 9-fold increase in net profit at 91.2 crore during the 2022-23 financial year.
The insurance company had earned a profit after tax of Rs 10.2 crore in the preceding fiscal.The company in the last fiscal recorded profit for the 11th year in a row, with PBT (Profit Before Tax) of Rs 100 crore for 2022-23, Canara HSBC Life Insurance managing director Anuj Mathur said.
The company’s gross written premium in the last fiscal increased 22 per cent to Rs 7,197 crore from Rs 5,890 crore in FY22, while assets under management (AUM) grew15 per cent to Rs 30,204 crore from Rs 26,294 crore as on March 31, 2022. The company proposed and…
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Canara Bank Hires Kyndryl To Modernise And Manage Its IT Operations
Canara Bank building With an aim to enhance customer experience, Canara Bank has hired global IT infrastructure provider Kyndryl to upgrade and manage IT operations.As part of a 7-year contract, Kyndryl will augment the bank’s end-to-end IT operations and streamline services delivery across core banking, IT infrastructure, applications, and network operations.Kyndryl’s solution will provide Canara Bank with an end-to-end view of its business services, risk mitigation using advanced capabilities and tools, and focus on services availability while enhancing observability and reliability, a joint statement said.This will help Canara Bank enhance its customer service experiences, it…
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Canara Bank Outlook for the Week (April 29, 2024 – May 03, 2024)
Canara Bank Q3 profit rises, provisioning falls
SummaryThe robust growth in the profit was driven by a drop in provisioning for bad loans.Canara Bank reported a 27% year-on-year rise in its net profit to ₹3,656 crore in the December quarter. The robust growth in the profit was driven by a drop in provisioning for bad loans. The provisioning for bad loans declined by 22.6% to ₹1,350 crore.
The net interest income – the difference between interest earned and paid – increased 9% to ₹9,417 crore. The net interest margin also improved by 9 basis points to 3.02%. The loan book also expanded around 12% to ₹9 lakh crore.
The asset quality also improved in the December quarter. The gross non-performing assets (NPA) or bad loans…
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SINE, IIT Bombay Collaborates with Canara Bank for Financing of Startups
New Delhi : A Memorandum of Understanding (MoU) was signed between Canara Bank and Society for Innovation & Entrepreneurship, (SINE), IIT Bombay on April 3 for extending financial assistance to Start-ups.
Canara Bank is extending financial assistance for the establishment, promotion, diversification, and modernization etc. of industrial units all over India under its Canara Start-Up Scheme. SINE is a technology business incubator that provides start to end incubation and acceleration support for technology startups. SINE also actively collaborates with industry/ corporates for its various programs, like idea to prototype, entrepreneur fellowship program, cross border…
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Canara Bank’s Canara Robeco IPO Approval Boosts Shares; Aims to Become Fifth Listed AMC in India
Canara Bank’s shares surged up to 3% to Rs 446.65 following the announcement of in-principle approval for the IPO listing of its mutual fund subsidiary, Canara Robeco Asset Management Company.
At the time of writing Canara Bank’s shares were trading at Rs 442.20 which is a 2.24% increase than the previous close.
The PSU lender revealed its intention to list Canara Robeco AMC on stock exchanges via an IPO, subject to due diligence, regulatory approvals, and other procedures.
The specific details and modalities for the IPO listing will be determined in due course.
Established in 1993, Canara Robeco MF, formerly Canbank Mutual Fund, became Canara Robeco Mutual Fund in 2007 through a joint…
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