Canara Bank falls; earnings concerns surface

Shares in Canara Bank Ltd fall after dealers say the bank's January-March quarterly net profit was boosted by a tax refund they estimated at Rs 1 billion ($16.62 million).

The falls reverse a 6.6 percent rally on Monday when investors had reacted positively to the state-lender's results, especially as its net non-performing loans fell to 1.98 percent during the January-March quarter from 2.39 percent in the previous quarter.

Analysts say Canara's loans decreased mainly as a result of the sale of some bad assets.

Canara was not immediately reachable despite several attempts.

Shares in Canara Bank were down nearly 4 percent as of 11:52 a.m.


  • Consumer spending during Oct-Dec will reveal the real state of economy

    There has been a lot of talk on the state of the economy over the past several months.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Arun Kumar Jain

Good governance and vicarious liability

Last fortnight was an extraordinary one for sta­keholders in good ...

Kuruvilla Pandikattu

Humans are wired to be lazy

Those of us who spend hours doing rigorous exercising with ...

Dharmendra Khandal

How positive intervention can go a long way

Ten years ago, Sariska tiger reserve declared that there were ...


William D. Green

Chairman & CEO, Accenture