Buy Canara Bank, target price Rs 235: Axis Securities

Axis Securities has buy call on Canara Bank with a target price of Rs 235. The current market price of Canara Bank is Rs 212.55. Time period given by analyst is 4 weeks when Canara Bank price can reach defined target.

Canara Bank, incorporated in the year 1906, is a banking company (having a market cap of Rs 38296.29 Crore).

Canara Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 24518.42 Crore, up 7.33 % from last quarter Total Income of Rs 22843.51 Crore and up 3.13 % from last year same quarter Total Income of Rs 23774.15 Crore. The bank reported net profit after tax of Rs 1918.80 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 62.93 per cent stake in the company as of 31-Mar-2022, while FIIs owned 8.48 per cent, DIIs 13.61 per cent.