Canara Bank shares crash 6% after Q2 results - Should investors buy, sell, or hold? Experts decode
Canara Bank share price opened at ₹124.65 against its previous close of ₹124.85 and dropped more than 6% to ₹116.80, almost close to its 52-week low of ₹116.55, hit on 1 October.
Canara Bank shares crashed over 6% in morning trade on Thursday, 15 October, a day after the company reported its July-September quarter of the financial year 2026-27 (Q2FY27). Canara Bank share price opened at ₹ 124.65 against its previous close of ₹ 124.85 and dropped more than 6% to ₹ 116.80, almost close to its 52-week low of ₹ 116.55, whic it hit on 1 October.
During market hours on 14 October, Canara Bank reported an 8.40% year-on-year (YoY) rise in its profit for the September quarter at ₹ 5,175 crore. Net interest income (NII) for the quarter rose 20.39% YoY to ₹ 11,005 crore, while net interest margin (NIM) improved to 2.53% from 2.52% YoY.
Global deposits during the quarter saw a decent 13.13% YoY rise to ₹ 16,97,305 crore and global advances also rose by a healthy rate of 19.46% to ₹ 13,75,060 crore.
On the asset quality front, gross NPA during the quarter declined by 102 bps to 1.33% and net NPA dropped by 24 bps to 0.30%.
The stock ended 3.87% higher at ₹ 124.85 on the BSE on 14 October.
However, in the next trading session, the stock declined due to heavy profit booking, with volume jumping more than 1.27 times.
(This is a developing story. Please check back for fresh updates.)
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