Canara Bank fell 2.58% to Rs 368.65 at 14:05 IST on BSE, after gross non-performing assets surged 63.41% to Rs 2347.63 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was up 93.62 points, or 0.56%, to 16,904.43.
On BSE, 2.59 lakh shares were traded in the counter as against an average daily volume of 1.22 lakh shares in the past one quarter.
The stock hit a high of Rs 382.20 and a low of Rs 367.45 so far during the day. The stock had hit a 52-week high of Rs 395 on 17 October 2009 and a 52-week low of Rs 135 on 27 October 2008.
Ahead on Q2 September 2009 results, the stock had risen 1.49% to Rs 378.40 crore on Friday, 23 October 2009. Earlier, the stock had dropped 4.25% to Rs 372.85 on 22 October 2009 from a recent high of Rs 389.40 on 21 October 2009.
The large-cap bank stock had outperformed the market over the past one month till 23 October 2009, rising 20.11% as compared to the Sensex's 0.55% rise. It had also outperformed the market in the past one quarter, gaining 39.27% as compared to the Sensex's return of 10.37%.
The bank's equity capital is Rs 410 crore. Face value per share is Rs 10.
The current price of Rs 368.65 discounts the bank's Q1 June 2009 annualized EPS of Rs 54.18, by a PE multiple of 6.80.
The bank's net non-performing assets (NPAs) surged 59.08% to Rs 1694.14 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs increased 1.60% as on Q2 September 2009 from 1.20% as on Q2 September 2008. The net NPAs as of Q2 September 2009 was at 1.63%, higher than 1.13% as on Q2 September 2008.
Canara Bank's net profit jumped 71.98% to Rs 910.52 crore on 25.95% rise in total income to Rs 5602.10 crore in Q2 September 2009 over Q2 September 2008. The bank declared its results during trading hours today, 26 October 2009.
The bank's net interest income increased 14.33% to Rs 1313.67 crore in Q2 September 2009 over Q2 September 2008.
The bank provides a full range of banking and other financial services through 2,575 branch offices in India and London. The services include accepting deposits, commercial and institutional credit, treasury, forex, investment, risk management and other related financial services.
The Government of India holds 73.17% stake in the bank (as on 30 September 2009).