Monday , November 18 2019
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Canara Bank rises as its JV partners with Indian Money Insurance to sell Life Insurance

Canara Bank is currently trading at Rs. 182.30, up by 2.30 points or 1.28% from its previous closing of Rs. 180.00 on the BSE.

The scrip opened at Rs. 180.00 and has touched a high and low of Rs. 182.90 and Rs. 179.00 respectively. So far 85611 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. 170.55 on 01-Oct-2019.

Last one week high and low of the scrip stood at Rs. 183.60 and Rs. 175.55 respectively. The current market cap of the company is Rs. 13682.69 crore.

The promoters holding in the company stood at 70.62%, while Institutions and Non-Institutions held 21.05% and 8.33% respectively.

Canara HSBC Oriental Bank of Commerce Life Insurance Company, a joint venture (JV) between Canara Bank, Oriental Bank of Commerce and HSBC Insurance, has partnered with IndianMoneyInsurance.com operated by Suvision Insurance Broker to sell life insurance plans. IndianMoneyInsurance digital platform will host the life insurance products offered by Canara HSBC Oriental Bank of Commerce Life Insurance.

This partnership gives policyholders the convenience of choosing an insurance policy with just a few clicks. As a one stop solution to meet the needs of IndianMoneyInsurance customers, Canara HSBC Oriental Bank of Commerce Life Insurance will offer iSelect Term Plan which provides enhanced protection cover for the family at an affordable premium.

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.