Canara Bank (NSE: CANBK): The shares of the government bank Canara Bank are going to be divided. It will also be split into five parts.
The official date for this split of stock was set in the announcement by Canara Bank. Let me tell you, on Friday, the company’s shares fell 0.70 percent to close at a level of Rs 579.
Which Day Is A Record Date?
The bank had told the stock markets that shares with a face value of 10 rupees would be divided into 5 parts. After the stock split the value of bank shares will be reduced to Rs 2.
The bank has said that the record date has been fixed on the date of May 15 for the stock split. That is, the shares will be divided on this day.
Rekha Jhunjhunwala Is Also Holding An Interest In The Bank
According to March shareholdings, Rekha Jhunjhunwala stakes 1.5 percent in Canara Bank. In December 2023, Rekha Jhunjhunwala had a 2.1 percent stake in the bank. He reduced the 0.6 percent stake within just one quarter.
Foreign institutional investors have also reduced the bank’s share. FII’s stake has come down to 10.57 percent.
What Is The Performance Of The Company?
In the past 3 months, the company has posted an annual return of 24 percent on the market for stocks. While at the same time, the cost of stocks has risen by 54.80 percent over the past six months.
The last year, Canara Bank has gained 96 percent of positive investors. Canara Bank has Rs 620 and the 52-week low level is Rs 291.30. The company’s market cap is Rs 1,04,983.72 crore.
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