One of the top public sector banks in India, Canara Bank has a significant presence in the retail, corporate, and treasury markets. The bank has been around for more than a century and has established a reputation for reliability, a focus on the needs of the customer, and cutting-edge goods and services.
Canara Bank’s share price is influenced by market forces and is liable to change depending on a variety of circumstances, just like any publicly listed firm. To forecast a company’s future performance and determine price goals for its stock, investors and analysts frequently utilise a variety of techniques and methodologies.
This article will examine Canara Bank’s share price target from 2023 to 2030 in more detail. We’ll look at the bank’s current situation, its financial performance,
CANARA BANK IN RECENT NEWS:
- The NCLT has been instructed to review the Canara Bank claims case.
- Canara Bank has experienced a decline of over 7% within a five-day period.
- Canara Bank has conducted a Mega Retail Camp.
- Canara Bank has initiated the process of divesting non-core assets through the means of initial public offerings (IPOs).
- The Board has put forth a proposal to the shareholders for a dividend of Rs 12 per equity share (equivalent to 120% of the face value of Rs 10 per share) for the fiscal year 2022-2023.
CANARA BANK SHARE PRICE TARGET 2023
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According to the table representing Canara Bank share price prediction for 2023, the bank’s stock is expected to see a bullish uptrend with a significant growth percentage over the course of the year. The maximum price predicted for June 2023 is ₹320.03, which is a substantial increase from the minimum price of ₹250.95.
The trend of growth is expected to continue in the coming months, with predicted maximum prices ranging from ₹320.03 to ₹363.52 throughout the year. The growth percentage in some months may exceed 40%, which is a positive sign for investors looking to invest in the bank’s stock.
Overall, the predicted trend for Canara Bank’s stock in 2023 is bullish, with a potential for significant growth. However, it’s important to note that stock prices can be influenced by various external factors, such as global economic conditions and political events, which can impact the bank’s performance. As such, investors should exercise caution and undertake thorough research before making any investment decisions.
CANARA BANK SHARE PRICE TARGET 2024
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CANARA Bank Share Price Target 2024: Positive Outlook with Steady Growth Expected
Based on the data from the table representing CANARA Bank’s share price prediction for 2024, the bank’s stock is expected to maintain a positive outlook with steady growth throughout the year. The maximum and minimum price targets for 2024 are ₹508.94 and ₹263.74 respectively, indicating a potential growth of over 90% from the lowest predicted price to the highest.
The trend of steady growth is evident from the predicted maximum and minimum prices for each month, which show a consistent upward trajectory. The maximum price for January 2024 is predicted to be ₹382.65, which increases to ₹508.94 by December 2024. Similarly, the minimum price for January 2024 is predicted to be ₹1037.03, which increases to ₹391.49 by December 2024.
CANARA BANK SHARE PRICE TARGET 2025
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According to the data provided in the table representing CANARA Bank’s share price prediction for 2025, the bank’s stock is expected to maintain a positive outlook with a potential for growth throughout the year. The maximum and minimum price targets for 2025 are ₹617.36 and ₹358.25 respectively, indicating a potential growth of over 70% from the lowest predicted price to the highest.
The predicted trend for 2025 shows a consistent upward trajectory, with the maximum price increasing from ₹519.12 in January 2025 to ₹617.36 in December 2025. Similarly, the minimum price is predicted to increase from ₹399.32 in January 2025 to ₹474.89 in December 2025.
The positive outlook for CANARA Bank’s stock in 2025 is supported by the predicted growth in maximum prices for each month, with a potential increase of over 18% from January 2025 to December 2025. However, as with any investment, there are always external factors that can impact stock prices, and investors should undertake thorough research and exercise caution before making any investment decisions.
INDIAN BANK SHARE PRICE TARGET 2026 TO 2030
|Year||Maximum Price||Minimum Price|
Looking at the projected Canara Bank share price targets for the years 2026 to 2030, we can observe a mixed trend. In 2026, the maximum share price is expected to be around ₹432.15, with a minimum of ₹302.50. This suggests a possible downtrend for the bank’s share prices in that year. However, the following year 2027 shows a similar trend, with a maximum price of ₹367.33 and a minimum of ₹257.13.
But the bank’s fortunes appear to change in the later years, with a significant uptrend in share prices expected. In 2028, the maximum price target is projected to reach ₹661.19, which is a substantial increase from the previous years. Similarly, in 2029 and 2030, the share price targets are expected to reach ₹1,358.18 and ₹1,512.52, respectively. These figures indicate a bullish trend, with significant potential for growth in the bank’s share prices. However, it’s important to note that these projections are subject to various market forces and can change depending on the economic and regulatory landscape.
FINANCIAL STRENGTH OF INDIAN BANK (2018 TO 2022)
|QUARTERLY | ANNUAL||FY 2022||FY 2021||FY 2020||FY 2019||FY 2018|
|Total Income Growth (%)||0.64||52.15||6.39||18.70||-1.15|
|Provisions & Contingencies||17,502.62||17,490.37||11,696.51||10,406.53||13,879.93|
|Provisions & Contingencies Growth (%)||0.07||49.53||12.40||-25.02||75.19|
|Profit after Tax (PAT)||6,124.82||2,890.60||-1,986.43||601.85||-3,951.40|
|PAT Growth (%)||114.48||–||-469.64||–||-431.33|
|Net Interest Margin (%)||2.19||2.12||1.88||2.19||1.93|
|Net Profit Margin (%)||8.67||4.11||-3.99||1.25||-9.55|
|Basic EPS (₹)||35.04||19.11||-23.55||8.18||-65.95|
Looking at Canara Bank’s financial statement over the past five years, the company has shown mixed results in terms of growth. The total income for the company has been steadily increasing, with a growth rate of 0.64% in FY 2022 compared to the previous year, and a significant growth of 52.15% in FY 2021 compared to FY 2020. However, the company has also experienced losses in the past, with negative growth in total income of -1.15% in FY 2018 compared to the previous year.
Similarly, provisions and contingencies have been increasing over the past five years, with a growth rate of 0.07% in FY 2022 compared to the previous year and a growth rate of 49.53% in FY 2021 compared to FY 2020. The company’s profit after tax (PAT) has also been volatile, with a significant growth rate of 114.48% in FY 2022 compared to the previous year, but negative growth rates in FY 2020 and FY 2018.
Canara Bank’s net interest margin has remained fairly stable over the years, with a slight increase from 1.88% in FY 2020 to 2.19% in FY 2022. The company’s net profit margin has also been volatile, with a negative growth rate of -9.55% in FY 2018. The basic earnings per share (EPS) for the company has shown significant growth, with a maximum of ₹35.04 in FY 2022 compared to a minimum of -₹65.95 in FY 2018. Overall, while Canara Bank has experienced both positive and negative growth in the past, the company seems to be on a positive trajectory in recent years.
CANARA BANK SHARE PRICE TARGET BY EXPERTS:
- Canara Bank secures victory over RBI with an outstanding performance by Karun Nair.
- Canara Bank appoints K Satyanarayana Raju as its new Managing Director and CEO.
- Buy Canara Bank, target price Rs 335: Jayesh Bhanushali
- LKP Securities recommends purchasing Canara Bank with a target price of Rs 316.
What is Canara Bank’s share price target for the next year?
As share prices are subject to various market factors, it’s difficult to predict the exact target price. However, financial analysts and market experts may provide their own price targets based on their research and analysis.
Is it a good time to buy Canara Bank shares?
As an investor, it’s important to conduct thorough research and analysis before making any investment decisions. While past performance may provide some indication of future performance, it’s not a guarantee. It’s important to consider various factors such as market conditions, company performance, and financial goals before making any investment decisions.
It appears that Canara Bank has had inconsistent results in terms of income growth, PAT, revenue growth, and profit growth based on the financial statements of the previous five years. The bank has had good growth in some areas, like revenue and PAT growth in the fiscal year 2022, but negative growth in other areas, such as profit growth in the fiscal years 2020 and 2018. The bank has also seen variable net profit and interest margins.
At this time, buying Canara Bank stock may not be an easy choice, therefore before buying, investors should carefully assess the company’s financial standing, its business plans, and its competitive landscape.
Suhani Bhat, a student of Hansraj college, is a finance writer who takes deep interest in stock market, mutual funds, and other financial news. She writes for multiple finance blogs, including Financegradeup.com. Other than English, she also speaks Hindi.