Buy Canara Bank For Short Term

Buy Canara Bank For Short TermStock market analyst Rahul Mohinder has maintained 'buy' rating on Canara Bank Ltd stock with targets of Rs 527 and 538.

According to analyst, the stock has support at Rs 500.

The stock of the company, on August 31, closed at Rs 514 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 539.80 and a low of Rs 262.10 on BSE.

Current EPS & P/E ratio stood at 84.87 and 6.11 respectively.

During the last month, Canara Bank has raised its benchmark prime lending rate (BPLR) by 50 basis points w. e. f. August 12.

The bank's novel BPLR stands at 12.50% as against 12.00% earlier.

But, the altered BPLR is not applicable to the loans as well as advances sanctioned after July 1, 2010, and to those borrowers, who have preferred to swap to Base Rate System.

Canara Bank runs 4 sections, which comprise retail banking operations, treasury operations, wholesale banking operations plus other banking operations.

Canara Bank offers up different a range of products and services to the global clients.

As at March 31, 2010, the Bank operated 3043 branches across all geographical segments.

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