Canara Bank Outperforms Sector with Notable Stock Gains and Strong Dividend Yield

Jan 20 2025 01:20 PM IST
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Canara Bank experienced notable stock performance on January 20, 2025, with a significant increase and an intraday high of Rs 101. The bank outperformed its sector recently and maintains a strong dividend yield. Its short-term moving averages indicate positive momentum compared to longer-term averages.
Canara Bank, a key player in the public banking sector, saw a significant increase of 3.47% on January 20, 2025. Over the past five days, the stock has gained 14.07%, outperforming its sector by 0.92%. On this day, it reached an intraday high of Rs 101, reflecting a rise of 3.22%.

In terms of moving averages, Canara Bank is currently above its 5-day and 20-day averages, although it remains below the 50-day, 100-day, and 200-day moving averages. The public banking sector overall has experienced a gain of 2.5%.

The bank also features a robust dividend yield of 3.29% at its current price. In comparison to the broader market, Canara Bank's one-day performance of 3.99% significantly surpassed the Sensex, which recorded a gain of 0.84%. Over the past month, the stock has increased by 2.11%, while the Sensex has declined by 1.00%.
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