CANBK
**Canara Bank (CANBK) Stock Analysis**
**Company Overview:**
Canara Bank is a leading public sector bank in India, offering a wide range of financial services including retail banking, corporate banking, and wealth management. Established over a century ago, the bank has a significant presence across the country with an extensive network of branches and ATMs.
**Fundamental Analysis:**
- **Market Capitalization:** Approximately ₹79,132 crore.
- **Price-to-Earnings (P/E) Ratio:** The stock is trading at a P/E ratio of 4.83, which is below the industry average, indicating potential undervaluation.
- **Earnings Per Share (EPS):** ₹17.99, reflecting the bank's profitability.
- **Return on Equity (ROE):** 20.83%, demonstrating efficient use of shareholders' equity to generate profits.
- **Debt-to-Equity Ratio:** 0.627, suggesting a moderate level of debt in the bank's capital structure.
- **Dividend Yield:** 3.69%, indicating a healthy dividend payout to shareholders.
**Technical Analysis:**
- **Current Price:** ₹87.33.
- **52-Week Range:** The stock has traded between ₹83.52 and ₹128.90 over the past year, indicating significant volatility.
- **Support Levels:**
- First Support: ₹85.00
- Second Support: ₹80.00
- **Resistance Levels:**
- First Resistance: ₹95.00
- Second Resistance: ₹100.00
- **Breakout Point:** A sustained move above ₹95.00 could signal the start of a bullish trend.
- **Retest Levels:** After a breakout above ₹95.00, a retest of this level would confirm its strength as new support.
**Recent Performance:**
- **1 Week:** The stock has decreased by 2.00%.
- **1 Month:** The stock has decreased by 12.20%.
- **6 Months:** The stock has decreased by 21.77%.
**Analyst Ratings:**
- The consensus target price for Canara Bank is ₹127.20, suggesting a potential upside of approximately 45.65% from the current price.
**Conclusion:**
Canara Bank exhibits strong fundamentals with a low P/E ratio, healthy dividend yield, and efficient use of equity. Technically, the stock is trading near its support levels, indicating potential for upward movement if these levels hold. Investors should monitor the breakout above ₹95.00 and consider the support levels at ₹85.00 and ₹80.00 for potential entry points.
*Please note that stock market investments carry inherent risks. It is advisable to conduct thorough research or consult with a financial advisor before making investment decisions.*
**Company Overview:**
Canara Bank is a leading public sector bank in India, offering a wide range of financial services including retail banking, corporate banking, and wealth management. Established over a century ago, the bank has a significant presence across the country with an extensive network of branches and ATMs.
**Fundamental Analysis:**
- **Market Capitalization:** Approximately ₹79,132 crore.
- **Price-to-Earnings (P/E) Ratio:** The stock is trading at a P/E ratio of 4.83, which is below the industry average, indicating potential undervaluation.
- **Earnings Per Share (EPS):** ₹17.99, reflecting the bank's profitability.
- **Return on Equity (ROE):** 20.83%, demonstrating efficient use of shareholders' equity to generate profits.
- **Debt-to-Equity Ratio:** 0.627, suggesting a moderate level of debt in the bank's capital structure.
- **Dividend Yield:** 3.69%, indicating a healthy dividend payout to shareholders.
**Technical Analysis:**
- **Current Price:** ₹87.33.
- **52-Week Range:** The stock has traded between ₹83.52 and ₹128.90 over the past year, indicating significant volatility.
- **Support Levels:**
- First Support: ₹85.00
- Second Support: ₹80.00
- **Resistance Levels:**
- First Resistance: ₹95.00
- Second Resistance: ₹100.00
- **Breakout Point:** A sustained move above ₹95.00 could signal the start of a bullish trend.
- **Retest Levels:** After a breakout above ₹95.00, a retest of this level would confirm its strength as new support.
**Recent Performance:**
- **1 Week:** The stock has decreased by 2.00%.
- **1 Month:** The stock has decreased by 12.20%.
- **6 Months:** The stock has decreased by 21.77%.
**Analyst Ratings:**
- The consensus target price for Canara Bank is ₹127.20, suggesting a potential upside of approximately 45.65% from the current price.
**Conclusion:**
Canara Bank exhibits strong fundamentals with a low P/E ratio, healthy dividend yield, and efficient use of equity. Technically, the stock is trading near its support levels, indicating potential for upward movement if these levels hold. Investors should monitor the breakout above ₹95.00 and consider the support levels at ₹85.00 and ₹80.00 for potential entry points.
*Please note that stock market investments carry inherent risks. It is advisable to conduct thorough research or consult with a financial advisor before making investment decisions.*
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Hello Traders, Follow Us for Daily Updates -- Email - Gloabltradehub@gmail.com ---Contact - +91 93555 50303 ---
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.