share market tips canara bank share may jump up to rs 410 why experts are bullish about the stock

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share market tips canara bank share may jump up to rs 410 why experts are bullish about the stock

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Canara Bank Share Price: Canara Bank’s December quarter results were excellent. There has been a tremendous jump of 92 percent in the net profit of the bank. Experts are bullish on this and are giving buy advice on this stock. Canara Bank share can go up to ₹410 in coming days. In the early trade today i.e. Tuesday, January 25, this stock was trading at Rs 316.50 with a weakness of 1.14 per cent.

Read also: You can get returns of up to ₹ 568 on every share of this cable and fan maker, the expert said – buy

Brokerage firm Motilal Oswal has a buy recommendation on Canara Bank stock. The domestic brokerage firm has kept a target price of Rs 410 and can get a return of 28 per cent. At the same time, 10 out of 12 analysts are bullish on Canara Bank shares. Of these, six have given immediate buy and four have advised to buy. While, two have recommended hold and one has recommended sell.

canara bank share price history

If we talk about the share price history of Canara Bank, then the stock of this public sector bank has a difference of almost half between its 52 week high and low. Its 52 week high is Rs 341.70 and low is Rs 171.75. Today it is trading between Rs 314 to Rs 320. In the last one year, ISEN has given a return of more than 42 percent. At the same time, its performance has been a bit weak so far this year. It has given a negative return of 6.38 per cent during this period.

Why the profit of the bank increased

The reason for the increase in the profit of this major public sector bank is the reduction in bad loans (NPA) and increase in interest income. Explain that during the quarter of October-December 2022, the total income of the bank has also increased by about 23 percent. The capital adequacy ratio of the bank also improved during the third quarter. The net profit of the bank increased by 92 per cent to Rs 2,882 crore. The total income of the bank has also increased to Rs 21,312 crore during October-December 2022.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own and not those of Live Hindustan. The information given here is only about the performance of the stock, it is not investment advice. Investing in the stock market is subject to risks and Consult your advisor before investing.)

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