Canara Bank shares drop 0.68% as Sensex rises
Canara Bank traded 0.68 per cent down at Rs 109.45 at 11:06AM (IST) on Thursday, even as BSE benchmark Sensex gained 205.33 points to 81990.89.
The scrip had closed at Rs 110.2 in the previous session. The stock quoted a 52-week high price of Rs 129.35 and 52-week low of Rs 63.88, respectively. As per BSE data, total traded volume on the counter till 11:06AM (IST) stood at 179837 shares with a turnover of Rs 1.97 crore.
At the current price, the stock traded at 6.33 times its trailing 12-month earnings per share of Rs 17.27 per share and 1.27 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.92.
Shareholding Details
Promoters held 62.93 per cent stake in the company as of 30-Jun-2024, while FIIs owned 11.91 per cent and DIIs 3.49 per cent.
Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 45.11. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts
