Canara Bank witnessed a robust surge of over 3 percent in early trade on December 28, fueled by the company’s affirmative stance on commencing the listing process for its mutual fund subsidiary, Canara Robeco Asset Management Company, via an initial public offering.
The financial institution affirmed its commitment to providing comprehensive details about the listing in due course, as indicated in an official exchange filing.
As of 12:11 pm, Canara Bank shares exhibited a notable uptick, registering a 1.80 percent increase, reaching ₹440.30 on the National Stock Exchange.
This significant development also catalyzed heightened activity in the market, with a substantial 77 lakh shares changing hands, surpassing the one-month daily traded average of 75 lakh shares. Concurrently, the year-to-date performance of Canara Bank shares has surged impressively by 33 percent, reflecting positive investor sentiment.
