Canara Bank rises for third consecutive session

Canara Bank gained for a third straight session today. The stock is quoting at Rs 111.44, up 1.4% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.57% on the day, quoting at 24712.8. The Sensex is at 80888.47, up 0.58%. Canara Bank has slipped around 2.89% in last one month.

Meanwhile, Nifty PSU Bank index of which Canara Bank is a constituent, has slipped around 4.01% in last one month and is currently quoting at 6926.15, up 1.47% on the day. The volume in the stock stood at 152.33 lakh shares today, compared to the daily average of 302.22 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 112.15, up 1.88% on the day. Canara Bank is up 69.8% in last one year as compared to a 27.43% spurt in NIFTY and a 53.64% spurt in the Nifty PSU Bank index.

The PE of the stock is 6.68 based on TTM earnings ending June 24.