Canara Bank





Rakesh Jhunjhunwala's recent stock , is likely to report a doubling of profit in the December quarter on a single-digit rise in net interest income (NII). The Gross NPA ratio may fall sequentially while the margin may stay stable.


Motilal Oswal Securities sees profit at Rs 1,670 crore, up 139.50 percent year-on-year (YoY) over Rs 695 crore in the corresponding quarter last year. NII is seen rising 6.2 percent to Rs 6,460 crore. The Gross NPA ratio is seen at 8.2 percent compared with 8.4 percent in the September quarter and 7.5 percent in the year-ago quarter. Margins may come in at 2.7 percent.

Jhunjhunwala held 2,90,97,400 shares or a 1.60 percent stake in Canara Bank as of December 31, valued at roughly Rs 650 crore.