Canara Bank's Stock Sees Positive Growth, Offers High Dividend Yield

Canara Bank, one of the leading public banks in India, has seen a positive growth in its stock price on September 23, 2024. The stock has gained 3.0% and is currently trading at Rs. 108.25, outperforming the sector by 1.22%. This marks the second consecutive day of gains for the stock, with a total return of 3.3% in this period.

According to MarketsMOJO, a leading stock analysis and recommendation platform, the current call for Canara Bank's stock is 'Hold'. The stock is currently trading higher than its 5-day and 20-day moving averages, but lower than its 50-day, 100-day, and 200-day moving averages. This indicates a mixed trend for the stock in the short term.

At the current price, Canara Bank offers a high dividend yield of 3.07%, making it an attractive option for investors looking for regular income. However, it is important to note that this information is based on past performance and does not guarantee future returns.

In comparison to the overall market performance, Canara Bank has outperformed the Sensex by 3.12% in the last 1 day and underperformed by -7.79% in the last 1 month. This shows that while the stock has shown a positive growth in the short term, it has not been able to keep up with the market in the longer term.

Overall, Canara Bank's stock has shown a positive trend in the recent days, but it is important for investors to do their own research and make informed decisions before investing. With a strong presence in the public banking sector and a high dividend yield, Canara Bank remains a promising option for investors.