Canara Bank Share Price Target 2024-2030 Today Update, Business Profile, Fundamentals & Quarterly Results

After SBI, PNB, and BOB, Canara Bank is the fourth largest public sector bank in India. It primarily serves southern India, where it has a reputation for providing good business and focuses on Agri and Gold loans. When it comes to the amount of gold that can be used as collateral, it is second only to SBI, which is first when it comes to this particular loan product. In 1906, the bank was established. Additionally, it is a significant player in the Indian banking sector.

Canara Bank Share Price Target 2024-2030

Canara Bank is a company that is listed on stock exchanges. It does well on the exchanges, and the prices of its shares are going up every day. The company’s share price is rising in tandem with its demand, which is slightly rising as well. The company’s performance in its core business is excellent because it strives to meet the needs of its customers with all financial services, which ultimately increases the company’s profits, earnings, and revenues. It is broken down into various parts, like Treasury Operations.

Canara Bank Share Price Target Today Update

Putting resources into shares calls for informed determinations basically founded on careful examination and expert appraisal. On the off chance that you are thinking about Canara Bank stocks, you are perfectly located. Unique insights into the Canara Bank percent charge intention from 2024 to 2030 will be provided in this blog. In order to provide you with the information you need to make an informed choice regarding your funding, our evaluation is solely focused on the expansion, fundamental performance, and potential opportunities of the company.

What Is Canara Bank?

Canara Bank is one of India’s oldest and largest public place banks, having been established in 1906. The bank provides a wide range of financial services and products, including personal banking, business banking, and investment banking, through its extensive nationwide network of branches and ATMs.

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Overview of Canara Bank Share Price

Canara Bank serves individuals, businesses, and government agencies with comprehensive banking and monetary services within the banking industry. The financial sector contributes significantly to the economic climate and has a significant presence in the Indian banking industry.

  • MARKET CAP:₹97.18KCr
  • OPEN: ₹106.75
  • HIGH: ₹108.18
  • LOW: ₹104.80
  • P/E RATIO: 6.11
  • DIVIDEND YIELD: 3.06
  • 52 WEEK HIGH: ₹128.90
  • 52 WEEK LOW: ₹63.85

Canara Bank Business Profile

Right now, the quantity of branches is ~10,500 and the quantity of ATMs is ~13,000. There are five international branches in other countries. Our network of branches and the number of our ATMs both increased by approximately 4,000 and 4,500 respectively following our merger with Syndicate Bank.

Loan Book

At the moment, corporate loans account for 43% of all loans, followed by loans to agriculture (23%) and retail (7%), and loans to MSME (7%). Regarding the retail book, personal loans, vehicle loans, education loans, and housing loans account for 55%, 22%, and 11%, respectively.

Corporate Book Exposure

The bank’s corporate portfolio currently totals 290,000 crores rupees. The bank’s corporate portfolio focuses primarily on NBFCs (28 percent), infrastructure (27 percent), metal and metal products (9 percent), textiles (5 percent) and food processing (5 percent), and engineering (4 percent).

International Business

Canara Bank has established offices in the United Arab Emirates (UAE), South Africa, the US stock market, and DIFC. Other than the five abroad sub workplaces, it works in Tanzania where it has completely claimed auxiliary of Canara Bank Tanzania Ltd. At the moment, international corporations account for 5.6 percent of the bank’s overall performance.

Subsidiaries

  1. Canara Robeco Asset Management Co Ltd –M/s. Robeco Groep N.V., which currently oversees approximately INR 16,000 crore in Assets Under Management (AUM), manages 28 distinct mutual fund schemes, including the Gold exchange traded fund.
  2. Canara Bank Securities Ltd-Completely claimed subsidiary of a bank gives stock broking administrations to clients both institutional and retail.
  3. Canara HSBC OBC Life Insurance Company Ltd-This is a life insurance joint venture between Oriental Bank of Commerce and HSBC Insurance.

Canara Bank Fundamentals & Quarterly Results

Market Cap ₹ 1,12,930 Cr.
Current Price ₹ 124
High / Low ₹ 127 / 58.3
Stock P/E 7.41
Book Value ₹ 86.0
Dividend Yield 2.57 %
ROCE 7.00 %
ROE 19.6 %
Face Value ₹ 2.00
Debt to equity 15.8
Debt Capacity -6.41
Debt preceding year ₹ 12,37,160 Cr.
Debt ₹ 12,37,160 Cr.
Reserves ₹ 76,240 Cr.
EPS ₹ 16.8
EPS last year ₹ 16.8
Pledged percentage 0.00 %
FCF Prev Ann ₹ -40,591 Cr.
EVEBITDA 13.1
Industry PE 9.46
PEG Ratio 0.08
Piotroski score 6.00
Earnings yield 7.66 %
Sales growth 5Years 18.2 %

Canara Bank Quarterly Results

Metric Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 17,982 18,227 18,537 20,482 22,561 24,304 25,451 27,290 28,492 29,286
Interest 10,761 10,856 11,396 12,681 13,622 15,292 16,337 17,934 18,620 19,226
Expenses 8,386 10,824 9,382 11,326 10,831 12,253 10,990 10,859 12,001 13,198
Financing Profit -1,165 -3,453 -2,241 -3,525 -1,891 -3,241 -1,876 -1,504 -2,129 -3,138
Financing Margin % -6% -19% -12% -17% -8% -13% -7% -6% -7% -11%
Other Income 3,506 6,292 5,202 6,876 5,777 7,470 6,809 6,602 7,138 8,098
Depreciation 0 0 0 0 0 0 0 0 0 0
Profit before tax 2,341 2,839 2,961 3,351 3,886 4,229 4,933 5,098 5,009 4,960
Tax % 30% 31% 30% 23% 25% 24% 28% 28% 25% 24%
Net Profit 1,712 2,061 2,193 2,730 3,058 3,364 3,755 3,829 3,827 3,991
EPS in Rs 1.83 2.12 2.40 2.98 3.34 3.68 4.12 4.19 4.18 4.36
Gross NPA % 7.81% 7.51% 6.99% 6.37% 5.90% 5.35% 5.16% 4.76% 4.39% 4.23%
Net NPA % 2.87% 2.65% 2.48% 2.19% 1.96% 1.73% 1.57% 1.41% 1.32% 1.27%

CAGR Report

Compounded Sales Growth

Period Growth Rate
10 Years 11%
5 Years 18%
3 Years 16%
TTM 29%

Compounded Profit Growth

Period Growth Rate
10 Years 19%
5 Years 91%
3 Years 75%
TTM 40%

Stock Price CAGR

Period Growth Rate
10 Years 3%
5 Years 17%
3 Years 54%
1 Year 88%

Return on Equity

Period Growth Rate
10 Years 7%
5 Years 11%
3 Years 15%
Last Year 20%

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Canara Bank Shareholding Pattern

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Promoters 66.30% 72.55% 70.62% 78.52% 69.33% 62.93% 62.93% 62.93%
FIIs 5.28% 5.12% 4.26% 3.31% 4.59% 8.48% 8.95% 10.57%
DIIs 21.23% 16.86% 17.65% 11.02% 12.60% 13.61% 16.20% 14.39%
Public 7.19% 5.47% 7.47% 7.15% 13.48% 14.97% 11.92% 12.10%
No. of Shareholders 1,64,670 1,53,150 1,89,044 2,25,291 5,63,458 6,39,136 6,29,444 7,59,083

Canara Bank Share Price Target 2024-2030 Forecast

Year Share Price Target
2024 ₹204
2025 ₹301
2026 ₹397
2027 ₹492
2028 ₹588
2029 ₹671
2030 ₹768

Canara Bank Share Price Target 2025

Month Share Price Target
January ₹212
February ₹210
March ₹206
April ₹219
May ₹229
June ₹233
July ₹229
August ₹226
September ₹246
October ₹285
November ₹296
December ₹301

Canara Bank Share Price Target 2026

Month Share Price Target
January ₹308
February ₹315
March ₹301
April ₹316
May ₹325
June ₹330
July ₹323
August ₹335
September ₹349
October ₹378
November ₹394
December ₹397

Canara Bank Share Price Target 2027

Month Share Price Target
January ₹404
February ₹410
March ₹398
April ₹410
May ₹423
June ₹426
July ₹420
August ₹422
September ₹439
October ₹472
November ₹489
December ₹492

Canara Bank Share Price Target 2028

Month Share Price Target
January ₹501
February ₹506
March ₹494
April ₹509
May ₹519
June ₹522
July ₹516
August ₹517
September ₹533
October ₹574
November ₹586
December ₹588

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Canara Bank Share Price Target 2029

Month Share Price Target
January 598
February 587
March 577
April 582
May 592
June 604
July 623
August 636
September 654
October 645
November 660
December ₹671

Canara Bank Share Price Target 2030

Month Share Price Target
January 680
February 674
March 666
April 670
May 682
June 703
July 713
August 730
September 747
October 755
November 761
December ₹768

Points Before investing in Canara Bank:-

  • See through the benefit acquired of the organization through the fiscal reports of the organization.
  • Share prices can change in an hour or a minute on stock exchanges, so you should always keep an eye on them.
  • Check the expense ramifications of the stocks as they continue to change in each monetary year, so note the duty suggestion proportion for future advantages.
  • Don’t take out a loan for your investments; instead, put only enough money into something that makes sense for you. I
  • f you’re thinking about making a long-term investment, you should look at all the company funds’ categories, types, availability, and returns because they might be of use to you in the future.

Final Words

Canara Bank is a banking company which is recorded on the stock trades and performs very well on the stock trades; the organization’s portions are expanding because of the rising interest of the offers. The Portions of the organization are for the most part not held by the investors for a more drawn out period as how much gamble factors is higher in these offers which builds the possibilities of misfortunes subsequently investors attempt to stay away from these offers for quite a while. However, as these shares rise in value each day, they are attempting to cover the losses.

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