Canara Bank Soars After Stock Split! Check Current Price, News & Analysis (2024)

Canara Bank stock surges post 1:5 split. Find latest share price, news, and expert analysis on affordability boost and future outlook.

Canara Bank, a leading public sector lender in India, witnessed a significant surge in its share price following the much-anticipated stock split that took effect on May 15th, 2024. 

Canara Bank Soars After Stock Split! Check Current Price, News & Analysis (2024) (

The Split & Its Impact

The stock split involved dividing each existing Canara Bank share with a face value of ₹10 into five shares with a face value of ₹2 each. This effectively increased the number of outstanding shares by a factor of five, making individual shares more affordable.

The news of the split was met with positive sentiment, and the stock price jumped by over 5% on the ex-date (the day the record date for the split is set). This upward trend continued in the days following the split, with the current share price (as of October 26th, 2024) hovering around ₹125. This translates to a pre-split price of approximately ₹625, reflecting a healthy post-split increase.

News & Analysis: Positive Outlook for Canara Bank?

The positive price movement can be attributed to several factors. The lower share price has undoubtedly made Canara Bank more attractive to retail investors who may have previously found the pre-split price to be a barrier to entry. Additionally, the split signifies the bank’s confidence in its future growth prospects, potentially attracting institutional investors seeking undervalued opportunities.

Recent news surrounding Canara Bank has also been positive. The bank reported a strong performance in Q2FY24, with a significant increase in net profit compared to the previous quarter. This positive financial performance, coupled with the ongoing government initiatives to strengthen public sector banks, has instilled investor confidence in Canara Bank’s long-term outlook.

Expert Opinions & Things to Consider

Financial analysts are cautiously optimistic about Canara Bank’s future. 

Looking Ahead: Canara Bank’s Journey Continues

The stock split has marked a significant turning point for Canara Bank. The increased liquidity and wider investor base have the potential to propel the bank’s growth trajectory. However, consistent financial performance and strategic decision-making will be crucial for Canara Bank to maintain its upward momentum and sustain investor confidence in the long run.

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