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Canara Bank gains on receiving EoIs from 12 entities to buy entire stake in CFHL

Canara Bank is currently trading at Rs. 206.45, up by 1.90 points or 0.93% from its previous closing of Rs. 204.55 on the BSE.

The scrip opened at Rs. 205.00 and has touched a high and low of Rs. 207.35 and Rs. 204.30 respectively. So far 127941 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 302.00 on 01-Apr-2019 and a 52 week low of Rs. 190.35 on 05-Sep-2019.

Last one week high and low of the scrip stood at Rs. 207.35 and Rs. 190.35 respectively. The current market cap of the company is Rs. 15558.27 crore.

The promoters holding in the company stood at 70.62%, while Institutions and Non-Institutions held 21.88% and 7.50% respectively.

Canara Bank has received an expression of interest (EoIs) from 12 entities to buy the entire stake in its housing finance arm Can Fin Homes (CFHL). The lender, which owns 29.99 per cent stake in the home financier is looking to raise over Rs 1,000 crore from the stake sale.

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.

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