Canara Bank shares tank nearly 7%

Shares of Canara Bank on Thursday fell by nearly 7 per cent after the company reported a standalone net loss of Rs 3,259 crore for the quarter ended March.

On the BSE, the stock declined 6.76 per cent to Rs 102.05.

It plunged 6.84 per cent to Rs 102 on the NSE.

The state-owned bank on Wednesday reported a standalone net loss of Rs 3,259 crore for the quarter ended March, due to higher provisioning.

The lender had reported a net loss of Rs 552 crore in the corresponding period of the previous financial year. For the full year 2019-20, the bank reported a net loss of Rs 2,236 crore as against a net profit of Rs 347 crore.

 

Asianet.in/ Desk: Asianet Online