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Canara Bank Sustains Uptrend with 10% Gain After Robust Q2 Results
Canara Bank shares gained 10% after strong Q2 results, improved asset quality, and speculation of foreign ownership relaxation lifted PSU banking sentiment.
Canara Bank shares extended their rally by 10% over three sessions, driven by strong Q2 earnings showing improved asset quality and margin expansion. Speculation regarding an increase in foreign ownership limits further fueled buying interest. Analysts noted steady loan growth and reduced non-performing assets as key positives. The bank’s capital adequacy and retail segment performance underline operational resilience. Investor confidence in PSU banks appears to be strengthening as profitability metrics continue improving across the sector. [Source: Economic Times/Zerodha Pulse]