CANARA BANK

COMPANY PROFILE

Founded as 'Canara Bank Hindu Permanent Fund' in 1906, by late Shri Ammembal Subba Rao Pai, a philan- thropist, this small seed blossomed into a limited com- pany as 'Canara Bank Ltd.' in 1910 and became Canara Bank in 1969 after nationalization. Canara Bank is en- gaged in providing a wide range of banking and finan- cial services in retail banking, wholesale banking and treasury operations.

For FY 2013, Canara Bank’s net interest margins stood at 2.39 % (2.50 % for FY 2012). Total deposits with the bank stood at Rs. 3, 55,856 Cr. growing by 9.8 % over the previous year. For the same period, net NPA’s stood at 2.18 % (1.46 % for FY 2012).

During FY 2013, the Bank has added 128 domestic branches and 668 ATMs. As of March 31, 2013,the Bank has 3,728 branches including 5 overseas branches and 3,525 ATMs.

The Bank’s CASA deposits to domestic deposits stood at 25.1%. The Bank’s clientele base reached 4.70 Cr., com- prising 4.17 Cr. under deposit accounts and 53 lakh un- der borrowal accounts. 50 lakhs clientele added during the year.

Can fin homes has received egulator Sebi's approval for raising up to Rs 300 crore through a 'rights issue'. se- biissued its final 'observations' on the draft offer docu- ments on December 8, according to the latest update by the capital markets regulator.

Issuance of 'observations' on offer documents by Sebi is considered as a clearance to the issuer to go ahead with the share issues through routes like IPOs, FPOs and rights issue.Can Fin Homes, promoted by Canara bank, is primarily engaged in the business of housing finance.The company intends to utilise the net pro- ceeds towards "augmentation of capital base", which would result in an increase in networth and enable the company "to meet future capital adequacy require- ments".

At the end of June 30, 2014, Canara Bank had gross and net NPAs (Non-Performing Assets) of Rs 1,843.04 lakh and Rs 632.62 lakh respectively.

STOCK INFORMATION

STOCK PRICE

446.65

TARGET PRICE

460-475

SECTOR

BANK-PUBLIC SECTOR

SYMBOL (AT NSE)

CANBANK

ISIN

INE476A01014

FACE VALUE (IN RS.)

10.00

BSE CODE

532483

STOCK FUNDAMENTALS

MARKET CAP

20,639.03

BOOK VALUE

642.16

EPS - (TTM) (IN RS. CR.)

53.20

P/E

8.41

INDUSTRY P/E

12.31

SHAREHOLDING PATTERN

RESULTS (Quarterly )(Rs CR.)

 

SEP' 14

JUN' 14

MAR' 14

DEC' 13

SEP' 13

Sales

10,893.87

10,701.11

10,539.68

10,083.8

9,654.48

Operat- ing profit

8,316.58

8,251.81

7,725.28

7,544.81

7,441.26

Interest

8,526.08

8,271.85

8,004.49

7,856.88

7,463.32

Gross profit

1,625.54

1,795.00

1,882.10

1,590.86

1,424.97

TECHNICAL VIEW

CANARA BANK is looking strong on charts. We advise to buy around 440-445 with stoploss of 425 for the targets of 460-475 levels. RSI is also showing upside momentum in it on daily charts.

SYMBOL

VALUE

ACTION

RSI(14)

66.771

BUY

STOCH(9,6)

79.385

BUY

STOCHRSI(14)

86.374

OVERBOUGHT

MACD(12,26)

-11.070

SELL

ADX(14)

55.160

BUY

WILLIAMS %R

-4.702

OVERBOUGHT

CCI(14)

129.9617

BUY

ATR(14)

3.4357

LESS VOLATILITY

HIGH/LOWS(14)

4.8643

BUY

ULTIMATE OSCILLATOR

62.595

BUY

ROC

3.666

BUY

BULL/BEAR POWER()13

9.7160

BUY

BUY: 8 SELL:1 NEUTRAL: 2

SUMMARY : STRONG BUY

Our Other Recommendation for Next Week

SCRIP

ACTION

CMP

ENTRY

SL

TGT

TIME FRAME

  UNION BANK

BUY

239.00

230-235

230

242-248

ONE WEEK

  RCOM

SELL

81.30

83-85

88

81-78

ONE WEEK

  VOLTAS

SELL

240.05

244-246

250

234-224

ONE WEEK

  ALLAHABAD BANK

BUY

131.60

128-130

125

134-138

ONE WEEK

   ARVIND

BUY

280.35

277- 280

274

284-288

ONE WEEK

Performance of Previous Week

SCRIP

LOT

ACTION

ENTRY

SL

TGT

P&L

REMARK

CLOSE / LOW/ HIGH

 

HCL TECH

125

BUY

1560-1590

1520

1630-1650

-5000.00

SL TRG

1565.80 / 1503.05

HEXAWARE

2000

BUY

200-202

197

205-208

-6000.00

SL TRG

198.40 / 192.30

JSW ENERGY

4000

BUY

101-102

98

104-107

12000.00

FIRST TGT HIT

102.25 / 105.20

KPIT TECH

1000

BUY

202-205

192

212-222

6000.00

NEAR TGT

197.00 / 211.40

GLENMARK

500

SELL

760-780

800

740-720

-10000.00

SL TRG

136.20 / 130.25

KOTAK BANK

250

SELL

1240-1250

1280

1210-1200

3500.00

NEAR TGT

1264.65 / 1236.25

NET PROFIT

 

 

 

 

 

500.00

 

 

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DISCLAIMER

This report is only for the information of our customers. Recommendations, opinions, or suggestions are given with the understanding that readers acting on this information assume all risks involved. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. ATS and/or its group companies do not as assume any responsibility or liability resulting from the use of such information.

 

 

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