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CANBK
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Canara Bank - Raised 40 Billion Rupees Via Tier II Bonds
March 18 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK - 532483 - ISSUE OF TIER II BONDS
CANARA BANK- RAISED 40 BILLION RUPEES VIA TIER II BONDS
Source text: ID:nBSEKyK9r
Further company coverage: CNBK.NS
(([email protected];))
March 18 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK - 532483 - ISSUE OF TIER II BONDS
CANARA BANK- RAISED 40 BILLION RUPEES VIA TIER II BONDS
Source text: ID:nBSEKyK9r
Further company coverage: CNBK.NS
(([email protected];))
India New Issue-Canara Bank accepts bids for Tier II bonds, bankers say
MUMBAI, March 17 (Reuters) - India's Canara Bank CNBK.NS has accepted bids worth 40 billion rupees ($460.8 million) for Basel III compliant Tier II bonds maturing in 10 years, three bankers said on Monday.
It will pay an annual coupon of 7.46%, and had invited bids from bankers and investors earlier in the day, they said.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | 7.46% | 40 | March 17 | AAA (Crisil, Care) |
NABARD | 3 years and 6 months | To be decided | 20+50 | March 19 | AAA (Crisil, India rating) |
REC | 3 years | 7.44 | 30 | March 17 | AAA (Crisil, Icra, Care) |
REC | 10 years | 7.32 | 27.80 | March 17 | AAA (Crisil, Icra, Care) |
Can Fin Homes | 2 years and 2 months | 8.20 | 15.1 | March 17 | AAA (Icra) |
NIIF | 7 years and 2 months | To be decided | 2+5.5 | March 18 | AAA (Care, Icra |
Tata Capital Oct 2027 reissue | 2 years and 7 months | To be decided | 2.50+7.50 | March 18 | AAA (Crisil, Icra) |
Tata Capital | 3 years and 7 months | To be decided | 1+5 | March 18 | AAA (Crisil, Icra) |
Muthoot Finance | 3 years | To be decided | 6+9 | March 17 | AA+ (Crisil) |
Hinduja Leyland Finance | 10 years | To be decided | 7 | March 17 | AA+ (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 86.8000 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K
Editing by)
MUMBAI, March 17 (Reuters) - India's Canara Bank CNBK.NS has accepted bids worth 40 billion rupees ($460.8 million) for Basel III compliant Tier II bonds maturing in 10 years, three bankers said on Monday.
It will pay an annual coupon of 7.46%, and had invited bids from bankers and investors earlier in the day, they said.
The company did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 17:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | 7.46% | 40 | March 17 | AAA (Crisil, Care) |
NABARD | 3 years and 6 months | To be decided | 20+50 | March 19 | AAA (Crisil, India rating) |
REC | 3 years | 7.44 | 30 | March 17 | AAA (Crisil, Icra, Care) |
REC | 10 years | 7.32 | 27.80 | March 17 | AAA (Crisil, Icra, Care) |
Can Fin Homes | 2 years and 2 months | 8.20 | 15.1 | March 17 | AAA (Icra) |
NIIF | 7 years and 2 months | To be decided | 2+5.5 | March 18 | AAA (Care, Icra |
Tata Capital Oct 2027 reissue | 2 years and 7 months | To be decided | 2.50+7.50 | March 18 | AAA (Crisil, Icra) |
Tata Capital | 3 years and 7 months | To be decided | 1+5 | March 18 | AAA (Crisil, Icra) |
Muthoot Finance | 3 years | To be decided | 6+9 | March 17 | AA+ (Crisil) |
Hinduja Leyland Finance | 10 years | To be decided | 7 | March 17 | AA+ (Crisil) |
*Size includes base plus greenshoe for some issues
($1 = 86.8000 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K
Editing by)
India New Issue-Canara Bank to issue tier II bonds, bankers say
MUMBAI, March 12 (Reuters) - India's Canara Bank CNBK.NS plans to raise 40 billion rupees ($458 million), including a greenshoe option of 30 billion rupees, through sale of Basel III compliant tier II bonds maturing in 10 years, three merchant bankers said on Wednesday.
The state-run lender has invited coupon and commitment bids from bankers and investors on Monday, they said.
The bonds have a call option at the end of five years.
The lender did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 12
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | 10+30 | March 17 | AAA (Crisil, Care) | |
NTPC | 15 years | To be decided | 7+33 | March 18 | AAA (Crisil, Icra, Care) |
REC | 3 years | To be decided | 5+25 | March 17 | AAA (Crisil, Icra, Care) |
REC | 10 years | To be decided | 5+25 | March 17 | AAA (Crisil, Icra, Care) |
*Size includes base plus greenshoe for some issues
($1 = 87.2430 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala; Editing by Mrigank Dhaniwala)
MUMBAI, March 12 (Reuters) - India's Canara Bank CNBK.NS plans to raise 40 billion rupees ($458 million), including a greenshoe option of 30 billion rupees, through sale of Basel III compliant tier II bonds maturing in 10 years, three merchant bankers said on Wednesday.
The state-run lender has invited coupon and commitment bids from bankers and investors on Monday, they said.
The bonds have a call option at the end of five years.
The lender did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on March 12
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | 10+30 | March 17 | AAA (Crisil, Care) | |
NTPC | 15 years | To be decided | 7+33 | March 18 | AAA (Crisil, Icra, Care) |
REC | 3 years | To be decided | 5+25 | March 17 | AAA (Crisil, Icra, Care) |
REC | 10 years | To be decided | 5+25 | March 17 | AAA (Crisil, Icra, Care) |
*Size includes base plus greenshoe for some issues
($1 = 87.2430 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala; Editing by Mrigank Dhaniwala)
Canara Bank Says One Year MCLR Remains Unchanged At 9.10%
Feb 11 (Reuters) - Canara Bank Ltd CNBK.NS:
ONE YEAR MCLR REMAINS UNCHANGED AT 9.10%
Source text: ID:nBSE6zQfk
Further company coverage: CNBK.NS
(([email protected];;))
Feb 11 (Reuters) - Canara Bank Ltd CNBK.NS:
ONE YEAR MCLR REMAINS UNCHANGED AT 9.10%
Source text: ID:nBSE6zQfk
Further company coverage: CNBK.NS
(([email protected];;))
Canara Bank Q3 NIM At 2.71%
Jan 27 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK - Q3 NIM AT 2.71%
Source text: ID:nNSE7F4lWF
Further company coverage: CNBK.NS
(([email protected];))
Jan 27 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK - Q3 NIM AT 2.71%
Source text: ID:nNSE7F4lWF
Further company coverage: CNBK.NS
(([email protected];))
Canara Bank Says One Year MCLR Revised To 9.10% Effective Dec 12
Dec 10 (Reuters) - Canara Bank Ltd CNBK.NS:
ONE YEAR MCLR REVISED TO 9.10% EFFECTIVE DEC 12
Source text: [ID:]
Further company coverage: CNBK.NS
(([email protected];;))
Dec 10 (Reuters) - Canara Bank Ltd CNBK.NS:
ONE YEAR MCLR REVISED TO 9.10% EFFECTIVE DEC 12
Source text: [ID:]
Further company coverage: CNBK.NS
(([email protected];;))
Canara Bank Gets RBI Approval For Divesting Stake In Canara Robeco Asset Management, Canara HSBC Life Insurance
Dec 5 (Reuters) - Canara Bank Ltd CNBK.NS:
RBI ACCORDED APPROVAL FOR DIVESTING STAKE IN CANARA ROBECO ASSET MANAGEMENT
RBI ACCORDED APPROVAL FOR DIVESTING STAKE IN CANARA HSBC LIFE INSURANCE
DIVESTING STAKE IN CANARA ROBECO AMC, CANARA HSBC LIFE INSURANCE VIA IPO
RBI APPROVAL TO DIVEST 13% STAKE OF CO IN CANARA ROBECO ASSET MANAGEMENT
RBI SAYS BANK SHOULD ADHERE TO OCTOBER 31, 2029 TIMELINE FOR BRINGING STAKE UP TO 30%
RBI APPROVAL TO DIVEST 14.5% STAKE OF CO IN CANARA HSBC LIFE INSURANCE
POST RBI APPROVAL, CO WILL INITIATE PROCESS OF IPO
Source text: ID:nNSE1DqBVY
Further company coverage: CNBK.NS
(([email protected];))
Dec 5 (Reuters) - Canara Bank Ltd CNBK.NS:
RBI ACCORDED APPROVAL FOR DIVESTING STAKE IN CANARA ROBECO ASSET MANAGEMENT
RBI ACCORDED APPROVAL FOR DIVESTING STAKE IN CANARA HSBC LIFE INSURANCE
DIVESTING STAKE IN CANARA ROBECO AMC, CANARA HSBC LIFE INSURANCE VIA IPO
RBI APPROVAL TO DIVEST 13% STAKE OF CO IN CANARA ROBECO ASSET MANAGEMENT
RBI SAYS BANK SHOULD ADHERE TO OCTOBER 31, 2029 TIMELINE FOR BRINGING STAKE UP TO 30%
RBI APPROVAL TO DIVEST 14.5% STAKE OF CO IN CANARA HSBC LIFE INSURANCE
POST RBI APPROVAL, CO WILL INITIATE PROCESS OF IPO
Source text: ID:nNSE1DqBVY
Further company coverage: CNBK.NS
(([email protected];))
REFILE-WRAPUP 1-Indian banks review Adani exposure in wake of US bribery allegations
Moves position of 'to India' in paragraph 7, no other changes
Israel wants Adani to continue to invest in the country
Abu Dhabi's IHC maintains its outlook on Adani investment
Adani's listed company shares recover some losses
Indian lenders reviewing Adani group exposure
By Rishika Sadam and Siddhi Nayak
Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.
State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.
Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.
A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.
Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.
"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.
The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.
Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.
The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.
"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".
IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.
Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.
The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.
FALLOUT
Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.
Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.
Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.
Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.
Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.
The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.
Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.
The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.
Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.
French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.
Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.
Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.
(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)
(([email protected]; +852 3462 7757;))
Moves position of 'to India' in paragraph 7, no other changes
Israel wants Adani to continue to invest in the country
Abu Dhabi's IHC maintains its outlook on Adani investment
Adani's listed company shares recover some losses
Indian lenders reviewing Adani group exposure
By Rishika Sadam and Siddhi Nayak
Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.
State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.
Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.
A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.
Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.
"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.
The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.
Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.
The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.
"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".
IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.
Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.
The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.
FALLOUT
Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.
Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.
Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.
Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.
Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.
The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.
Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.
The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.
Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.
French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.
Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.
Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.
(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)
(([email protected]; +852 3462 7757;))
Canara Bank Q2 Net Profit At 40.15 Billion Rupees
Oct 29 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK Q2 NET PROFIT 40.15 BILLION RUPEES; IBES EST. 37.58 BILLION RUPEES
CANARA BANK Q2 GROSS NPA 3.73%
CANARA BANK Q2 INTEREST EARNED 297.40 BILLION RUPEES
CANARA BANK Q2 NET NPA 0.99%
CANARA BANK Q2 PROVISIONS AND CONTINGENCIES 22.51 BILLION RUPEES
CANARA BANK Q2 PROVISIONS FOR NPA 25.87 BILLION RUPEES
Further company coverage: CNBK.NS
(([email protected];))
Oct 29 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK Q2 NET PROFIT 40.15 BILLION RUPEES; IBES EST. 37.58 BILLION RUPEES
CANARA BANK Q2 GROSS NPA 3.73%
CANARA BANK Q2 INTEREST EARNED 297.40 BILLION RUPEES
CANARA BANK Q2 NET NPA 0.99%
CANARA BANK Q2 PROVISIONS AND CONTINGENCIES 22.51 BILLION RUPEES
CANARA BANK Q2 PROVISIONS FOR NPA 25.87 BILLION RUPEES
Further company coverage: CNBK.NS
(([email protected];))
Canara Bank Approves Sale Of Assets And Liabilities Of Canara Bank Tanzania To Exim Bank Tanzania
Oct 18 (Reuters) - Canara Bank Ltd CNBK.NS:
APPROVED SALE OF ASSETS AND LIABILITIES OF CANARA BANK TANZANIA TO EXIM BANK TANZANIA
Source text for Eikon: ID:nNSEbr3YbH
Further company coverage: CNBK.NS
(([email protected];;))
Oct 18 (Reuters) - Canara Bank Ltd CNBK.NS:
APPROVED SALE OF ASSETS AND LIABILITIES OF CANARA BANK TANZANIA TO EXIM BANK TANZANIA
Source text for Eikon: ID:nNSEbr3YbH
Further company coverage: CNBK.NS
(([email protected];;))
Canara Bank Says One Year MCLR Raised To 9.05% From 9%
Oct 10 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK - ONE YEAR MCLR RAISED TO 9.05% FROM 9%
Source text for Eikon: [ID:]
Further company coverage: CNBK.NS
(([email protected];))
Oct 10 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK - ONE YEAR MCLR RAISED TO 9.05% FROM 9%
Source text for Eikon: [ID:]
Further company coverage: CNBK.NS
(([email protected];))
Canara Bank Says Coupon Rate Of MTN Bonds At 4.896% To Be Paid Semi Annually
Sept 4 (Reuters) - Canara Bank Ltd CNBK.NS:
ISSUANCE OF US $ 300 MILLION UNSECURED NOTES OF MTN BONDS
COUPON RATE OF MTN BONDS AT 4.896% TO BE PAID SEMI ANNUALLY
Source text for Eikon: ID:nNSE9ljltF
Further company coverage: CNBK.NS
(Reporting by VijayDattaram Malkar)
(([email protected];))
Sept 4 (Reuters) - Canara Bank Ltd CNBK.NS:
ISSUANCE OF US $ 300 MILLION UNSECURED NOTES OF MTN BONDS
COUPON RATE OF MTN BONDS AT 4.896% TO BE PAID SEMI ANNUALLY
Source text for Eikon: ID:nNSE9ljltF
Further company coverage: CNBK.NS
(Reporting by VijayDattaram Malkar)
(([email protected];))
Canara Bank Raised 30 Billion Rupees Basel Iii Compliant Additional Tier 1 Bonds
Aug 29 (Reuters) - Canara Bank Ltd CNBK.NS:
ISSUE OF AT1 BONDS
RAISED 30 BILLION RUPEES BASEL III COMPLIANT ADDITIONAL TIER 1 BONDS
Source text for Eikon: ID:nBSE7FmHZf
Further company coverage: CNBK.NS
(([email protected];))
Aug 29 (Reuters) - Canara Bank Ltd CNBK.NS:
ISSUE OF AT1 BONDS
RAISED 30 BILLION RUPEES BASEL III COMPLIANT ADDITIONAL TIER 1 BONDS
Source text for Eikon: ID:nBSE7FmHZf
Further company coverage: CNBK.NS
(([email protected];))
India New Issue-Canara Bank accepts bids for perpetual bonds, bankers say
MUMBAI, Aug 27 (Reuters) - India's Canara Bank CNBK.NS has accepted bids aggregating to 30 billion rupees ($357.5 million) for its additional tier-I perpetual bonds, three merchant bankers said on Tuesday.
The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.
The bonds have a call option at end of 10 years. In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at an 8.40% coupon.
Here is the list of deals reported so far on Aug. 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | 8.27 | 30 | Aug 27 | AA+ (Crisil, Icra) |
HPCL | 5 years | 7.22 | 25 | Aug 27 | AAA (Crisil, India Ratings |
LIC Housing Finance | 3 year and 6 months | To be decided | 5+15 | Aug 28 | AAA (Crisil, Careedge) |
LIC Housing Finance | 10 years | To be decided | 11+25 | Aug 28 | AAA (Crisil, Careedge) |
Bajaj Finance July 2029 reissue | 4 years and 11 months | To be decided | 5+25 | Aug 28 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 83.9110 Indian rupees)
(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sonia Cheema)
MUMBAI, Aug 27 (Reuters) - India's Canara Bank CNBK.NS has accepted bids aggregating to 30 billion rupees ($357.5 million) for its additional tier-I perpetual bonds, three merchant bankers said on Tuesday.
The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.
The bonds have a call option at end of 10 years. In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at an 8.40% coupon.
Here is the list of deals reported so far on Aug. 27:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | 8.27 | 30 | Aug 27 | AA+ (Crisil, Icra) |
HPCL | 5 years | 7.22 | 25 | Aug 27 | AAA (Crisil, India Ratings |
LIC Housing Finance | 3 year and 6 months | To be decided | 5+15 | Aug 28 | AAA (Crisil, Careedge) |
LIC Housing Finance | 10 years | To be decided | 11+25 | Aug 28 | AAA (Crisil, Careedge) |
Bajaj Finance July 2029 reissue | 4 years and 11 months | To be decided | 5+25 | Aug 28 | AAA (Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 83.9110 Indian rupees)
(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sonia Cheema)
India New Issue-Canara Bank to issue perpetual bonds, bankers say
MUMBAI, Aug 23 (Reuters) - India's Canara Bank CNBK.NS plans to raise 30 billion rupees ($357.66 million), including a greenshoe option of 20 billion rupees, through the sale of additional tier-I perpetual bonds, three merchant bankers said on Friday.
The state-run lender has invited coupon and commitment bids from bankers and investors on Tuesday, they said.
The issue will have a call option at end of 10 years. In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at the 8.40% coupon.
Last week, Reuters reported lenders may start tapping this route to raise funds after India eased norms for how mutual funds value perpetual bonds.
Here is the list of deals reported so far on Aug. 23
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | To be decided | 10+20 | Aug 27 | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.8780 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Nivedita Bhattacharjee)
MUMBAI, Aug 23 (Reuters) - India's Canara Bank CNBK.NS plans to raise 30 billion rupees ($357.66 million), including a greenshoe option of 20 billion rupees, through the sale of additional tier-I perpetual bonds, three merchant bankers said on Friday.
The state-run lender has invited coupon and commitment bids from bankers and investors on Tuesday, they said.
The issue will have a call option at end of 10 years. In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at the 8.40% coupon.
Last week, Reuters reported lenders may start tapping this route to raise funds after India eased norms for how mutual funds value perpetual bonds.
Here is the list of deals reported so far on Aug. 23
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | To be decided | 10+20 | Aug 27 | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.8780 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Nivedita Bhattacharjee)
India New Issue-Canara Bank likely to issue perpetual bonds for FY25 by Aug end
MUMBAI, Aug 21 (Reuters) - India's Canara Bank CNBK.NS is set to kickstart the cycle of perpetual bond issue for the current financial year, as it plans to come up with an issue by end of this month, three merchant bankers said on Wednesday.
The state-run lender could raise around 40 billion rupees ($477.37 million) from additional tier I perpetual bonds, with a call option at the end of five years, the bankers added.
In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at the 8.40% coupon.
The bank did not respond to a Reuters query seeking comment.
Last week, Reuters reported lenders may start tapping this route to raise funds after India eased norms for how mutual funds value perpetual bonds.
Here is the list of deals reported so far on Aug. 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | To be decided | 40 | To be decided | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.7930 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Janane Venkatraman
)
MUMBAI, Aug 21 (Reuters) - India's Canara Bank CNBK.NS is set to kickstart the cycle of perpetual bond issue for the current financial year, as it plans to come up with an issue by end of this month, three merchant bankers said on Wednesday.
The state-run lender could raise around 40 billion rupees ($477.37 million) from additional tier I perpetual bonds, with a call option at the end of five years, the bankers added.
In February, Canara Bank raised 20 billion rupees via a perpetual bond issue at the 8.40% coupon.
The bank did not respond to a Reuters query seeking comment.
Last week, Reuters reported lenders may start tapping this route to raise funds after India eased norms for how mutual funds value perpetual bonds.
Here is the list of deals reported so far on Aug. 21:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | perpetual | To be decided | 40 | To be decided | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.7930 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Janane Venkatraman
)
Canara Bank Says Government Nominated Rohit Das As RBI Nominee Director
Aug 6 (Reuters) - Canara Bank Ltd CNBK.NS:
GOVERNMENT NOMINATED ROHIT DAS AS RBI NOMINEE DIRECTOR
Source text for Eikon: ID:nBSE8y2kPy
Further company coverage: CNBK.NS
(([email protected];))
Aug 6 (Reuters) - Canara Bank Ltd CNBK.NS:
GOVERNMENT NOMINATED ROHIT DAS AS RBI NOMINEE DIRECTOR
Source text for Eikon: ID:nBSE8y2kPy
Further company coverage: CNBK.NS
(([email protected];))
Canara Bank Q1 Net Profit Misses Estimates
July 25 (Reuters) - Canara Bank Ltd CNBK.NS:
Q1 NET PROFIT 39.05 BILLION RUPEES; IBES EST. 39.28 BILLION RUPEES
Q1 GROSS NPA 4.14%
Q1 NET NPA 1.24%
Q1 INTEREST EARNED 287.01 BILLION RUPEES
Q1 PROVISIONS AND CONTINGENCIES 22.82 BILLION RUPEES
Q1 PROVISIONS FOR NPA 21.71 BILLION RUPEES
Further company coverage: CNBK.NS
(([email protected];))
July 25 (Reuters) - Canara Bank Ltd CNBK.NS:
Q1 NET PROFIT 39.05 BILLION RUPEES; IBES EST. 39.28 BILLION RUPEES
Q1 GROSS NPA 4.14%
Q1 NET NPA 1.24%
Q1 INTEREST EARNED 287.01 BILLION RUPEES
Q1 PROVISIONS AND CONTINGENCIES 22.82 BILLION RUPEES
Q1 PROVISIONS FOR NPA 21.71 BILLION RUPEES
Further company coverage: CNBK.NS
(([email protected];))
India New Issue-Canara Bank accepts bids for 10-year infra bonds, bankers say
MUMBAI, July 16 (Reuters) - India's Canara Bank CNBK.NS has accepted bids aggregating to 100 billion rupees ($1.20 billion) for infrastructure bonds maturing in 10 years, three bankers said on Tuesday.
The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.
Here is the list of deals reported so far on July 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | 7.40 | 100 | July 16 | AAA (India Ratings) |
REC | 11 years and 1 month | 7.45 | 30 | July 16 | AAA (Icra) |
REC | 3 years and 1 month | 7.56 | 30 | July 16 | AAA (Icra) |
Tata Capital Housing Sep 2026 reissue | 2 years and 2 months | 8.03% (yield) | 1.50 | July 15 | AAA (Crisil, Icra) |
Tata Capital Housing Nov 2027 reissue | 3 years and 4 months | 8.03% (yield) | 1.90 | July 15 | AAA (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.5814 Indian rupees)
(Reporting by Bhaki Tambe and Dharamraj Dhutia; Editing by Varun H K)
MUMBAI, July 16 (Reuters) - India's Canara Bank CNBK.NS has accepted bids aggregating to 100 billion rupees ($1.20 billion) for infrastructure bonds maturing in 10 years, three bankers said on Tuesday.
The state-run lender had invited coupon and commitment bids from bankers and investors earlier in the day.
Here is the list of deals reported so far on July 16:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | 7.40 | 100 | July 16 | AAA (India Ratings) |
REC | 11 years and 1 month | 7.45 | 30 | July 16 | AAA (Icra) |
REC | 3 years and 1 month | 7.56 | 30 | July 16 | AAA (Icra) |
Tata Capital Housing Sep 2026 reissue | 2 years and 2 months | 8.03% (yield) | 1.50 | July 15 | AAA (Crisil, Icra) |
Tata Capital Housing Nov 2027 reissue | 3 years and 4 months | 8.03% (yield) | 1.90 | July 15 | AAA (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 83.5814 Indian rupees)
(Reporting by Bhaki Tambe and Dharamraj Dhutia; Editing by Varun H K)
India New Issue-Canara Bank to issue 10-year infra bonds, bankers say
MUMBAI, July 12 (Reuters) - India's Canara Bank CNBK.NS plans to raise 100 billion rupees ($1.20 billion), including a greenshoe option of 50 billion rupees, through a sale of infrastructure bonds maturing in 10 years, three bankers said on Friday.
The state-run lender has invited coupon and commitment bids for the issue on Tuesday, they said.
Here is the list of deals reported so far on July 12:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | To be decided | 50+50 | July 16 | AAA (India Ratings) |
REC | 11 year and 1 month | To be decided | 5+25 | July 16 | AAA (Icra) |
REC | 3 years and 1 month | To be decided | 5+25 | July 16 | AAA (Icra) |
Indian Oil Corp | 5 years | 7.36 | 25 | July 12 | AAA (Crisil, Icra) |
LIC Housing Finance | 2 years and 1 month | 7.8650 | 7.50 | July 11 | AAA (Crisil) |
Aditya Birla Housing | 3 years and 1 month | 8.1701 | 4.50 | July 11 | AAA (Icra, India Ratings) |
Aditya Birla Housing | 4 years and 10 months | 8.1168 | 4.50 | July 11 | AAA (Icra, India Ratings) |
HUDCO | 5 years | To be decided | 5+15 | July 15 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.5066 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sonia Cheema)
MUMBAI, July 12 (Reuters) - India's Canara Bank CNBK.NS plans to raise 100 billion rupees ($1.20 billion), including a greenshoe option of 50 billion rupees, through a sale of infrastructure bonds maturing in 10 years, three bankers said on Friday.
The state-run lender has invited coupon and commitment bids for the issue on Tuesday, they said.
Here is the list of deals reported so far on July 12:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | To be decided | 50+50 | July 16 | AAA (India Ratings) |
REC | 11 year and 1 month | To be decided | 5+25 | July 16 | AAA (Icra) |
REC | 3 years and 1 month | To be decided | 5+25 | July 16 | AAA (Icra) |
Indian Oil Corp | 5 years | 7.36 | 25 | July 12 | AAA (Crisil, Icra) |
LIC Housing Finance | 2 years and 1 month | 7.8650 | 7.50 | July 11 | AAA (Crisil) |
Aditya Birla Housing | 3 years and 1 month | 8.1701 | 4.50 | July 11 | AAA (Icra, India Ratings) |
Aditya Birla Housing | 4 years and 10 months | 8.1168 | 4.50 | July 11 | AAA (Icra, India Ratings) |
HUDCO | 5 years | To be decided | 5+15 | July 15 | AAA (Icra, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 83.5066 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Sonia Cheema)
Canara Bank Revises One Year MCLR
July 11 (Reuters) - Canara Bank Ltd CNBK.NS:
REVISES ONE YEAR MCLR TO 8.95% FROM 8.90%, EFFECTIVE JULY 12
Source text for Eikon: ID:nBSE51h6zX
Further company coverage: CNBK.NS
(([email protected];;))
July 11 (Reuters) - Canara Bank Ltd CNBK.NS:
REVISES ONE YEAR MCLR TO 8.95% FROM 8.90%, EFFECTIVE JULY 12
Source text for Eikon: ID:nBSE51h6zX
Further company coverage: CNBK.NS
(([email protected];;))
India New Issue-Canara Bank to issue infra bonds, bankers say
MUMBAI, June 20 (Reuters) - India's Canara Bank CNBK.NS is likely to raise around 20 billion rupees ($239.73 million) through the sale of infrastructure bonds maturing in 10 years, three bankers said on Thursday.
It is likely to invite coupon and commitment bids for the issue in the next two weeks, they said.
The state-run lender did not comment to an email query from Reuters.
In February, it had raised 20 billion rupees through the sale of perpetual bonds, with a call option at the end of five years, at 8.40% coupon.
Here is the list of deals reported so far on June 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | To be decided | 20 | To be decided | AAA (Careedge Ratings) |
LIC Housing May 2029 reissue | 4 years and 11 months | To be decided | 7.5+10 | June 21 | AAA (Crisil) |
India Grid Trust | 2 years and 8 months | 7.87 (quarterly) | 3.5+3 | June 21 | AAA (Crisil, Icra) |
Kotak Mahindra Prime | 3 years | To be decided | 5 | June 20 | AAA (Icra) |
NIIF Infra Finance | 5 years and 2 months | 8.07 | 5 | June 20 | AAA (ICRA, Careedge) |
*Size includes base plus greenshoe for some issues
($1 = 83.4260 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
MUMBAI, June 20 (Reuters) - India's Canara Bank CNBK.NS is likely to raise around 20 billion rupees ($239.73 million) through the sale of infrastructure bonds maturing in 10 years, three bankers said on Thursday.
It is likely to invite coupon and commitment bids for the issue in the next two weeks, they said.
The state-run lender did not comment to an email query from Reuters.
In February, it had raised 20 billion rupees through the sale of perpetual bonds, with a call option at the end of five years, at 8.40% coupon.
Here is the list of deals reported so far on June 20:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Canara Bank | 10 years | To be decided | 20 | To be decided | AAA (Careedge Ratings) |
LIC Housing May 2029 reissue | 4 years and 11 months | To be decided | 7.5+10 | June 21 | AAA (Crisil) |
India Grid Trust | 2 years and 8 months | 7.87 (quarterly) | 3.5+3 | June 21 | AAA (Crisil, Icra) |
Kotak Mahindra Prime | 3 years | To be decided | 5 | June 20 | AAA (Icra) |
NIIF Infra Finance | 5 years and 2 months | 8.07 | 5 | June 20 | AAA (ICRA, Careedge) |
*Size includes base plus greenshoe for some issues
($1 = 83.4260 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
State Bank of India to raise up to $3 bln via debt in FY25
BENGALURU, June 11 (Reuters) - State Bank of India SBI.NS, the country's largest lender, said on Tuesday that its board has approved raising up to $3 billion via debt in the current financial year.
The state-run lender will raise the funds in one or more tranches through a public offer or a private placement of senior unsecured notes, which will be denominated in U.S. dollars or another major foreign currency, it said.
The Mumbai-based lender did not mention what the proceeds will be used for.
Indian banks are shoring up their capital base to meet the rising demand for loans.
Several state run-lenders, including Canara Bank CNBK.NS, Punjab and Sind Bank PUNA.NS and Punjab National Bank PNBK.NS, plan to raise funds via debt this fiscal year.
In January, SBI raised 50 billion rupees (about $600 million) by selling Basel III-compliant additional tier-I perpetual bonds.
The lender is also open to raising equity capital to support growth, Chairman Dinesh Kumar Khara said last month.
SBI's shares were up 0.8% on Tuesday and have gained 30.5% so far this year.
($1 = 83.4950 Indian rupees)
(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sonia Cheema)
(([email protected]; +91 8805175330 ;))
BENGALURU, June 11 (Reuters) - State Bank of India SBI.NS, the country's largest lender, said on Tuesday that its board has approved raising up to $3 billion via debt in the current financial year.
The state-run lender will raise the funds in one or more tranches through a public offer or a private placement of senior unsecured notes, which will be denominated in U.S. dollars or another major foreign currency, it said.
The Mumbai-based lender did not mention what the proceeds will be used for.
Indian banks are shoring up their capital base to meet the rising demand for loans.
Several state run-lenders, including Canara Bank CNBK.NS, Punjab and Sind Bank PUNA.NS and Punjab National Bank PNBK.NS, plan to raise funds via debt this fiscal year.
In January, SBI raised 50 billion rupees (about $600 million) by selling Basel III-compliant additional tier-I perpetual bonds.
The lender is also open to raising equity capital to support growth, Chairman Dinesh Kumar Khara said last month.
SBI's shares were up 0.8% on Tuesday and have gained 30.5% so far this year.
($1 = 83.4950 Indian rupees)
(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sonia Cheema)
(([email protected]; +91 8805175330 ;))
Canara Bank Accords Approval For Initiating Process Of Diluting 14.50% Stake Of Bank In Unit
May 31 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK LTD - ACCORDED APPROVAL FOR INITIATING PROCESS OF DILUTING 14.50% STAKE OF BANK IN UNIT
CANARA BANK LTD - APPROVAL FOR DILUTING STAKE IN CANARA HSBC LIFE INSURANCE CO BY LISTING CO IN STOCK EXCHANGES THROUGH IPO
Source text for Eikon: ID:nBSE2cmBCY
Further company coverage: CNBK.NS
(([email protected];))
May 31 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK LTD - ACCORDED APPROVAL FOR INITIATING PROCESS OF DILUTING 14.50% STAKE OF BANK IN UNIT
CANARA BANK LTD - APPROVAL FOR DILUTING STAKE IN CANARA HSBC LIFE INSURANCE CO BY LISTING CO IN STOCK EXCHANGES THROUGH IPO
Source text for Eikon: ID:nBSE2cmBCY
Further company coverage: CNBK.NS
(([email protected];))
India's Adani Ports to replace Wipro in Sensex after BSE rejig
Adds analyst estimates on likely inflows into Adani Ports in paragraph 5
By Bharath Rajeswaran
BENGALURU, May 24 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS will replace Wipro WIPR.NS in the 30-stock blue-chip S&P BSE Sensex .BSESN, the operator of the index said on Friday.
The BSE, in its semi-annual rebalancing exercise, included the country's largest private port operator, making it the first Adani Group company to join the Sensex, effective June 24.
The Sensex ended the session muted ahead of the announcement. .BO
Two Adani Group companies - Adani Enterprises ADEL.NS and Adani Ports are already part of the other benchmark index NSE Nifty 50 .NSEI.
Adani Ports could see inflows of $252 million after inclusion into the Sensex, while Wipro will likely witness outflows worth $161 million, said Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.
Adani Ports' inclusion into the Sensex came on the same day when shares of Adani Enterprises recovered in intraday trade to levels last seen in January 2023, before a report by Hindenburg Research triggered a sell-off in Gautam Adani's ports-to-power conglomerate.
Since that report, Adani Ports and Adani Power ADAN.NS have been the best-performing group stocks, rising 86.04% and 157.4%, respectively. They were also the first two Adani companies to bounce back from the drop.
Earlier in May, Adani Ports posted a 76% rise in its fourth-quarter profit, helped by record cargo volumes.
Its stock has jumped 6% this week, its best weekly performance since early February.
Besides the Sensex rejig, REC RECM.NS, HDFC Asset Management HDFA.NS, Canara Bank CNBK.NS, Cummins India CUMM.NS and Punjab National Bank PNBK.NS have been included in the BSE 100 index .BSE100.
The stocks replaced in that index are Page Industries PAGE.NS, SBI Cards and Payment Services SBIC.NS, ICICI Prudential Life Insurance ICIR.NS, Jubilant FoodWorks JUBI.NS and Zee Entertainment Enterprises ZEE.NS.
Performance of Adani group companies since Hindenburg report https://reut.rs/3yAT3iX
BSE Indexes rejig: Inclusions and Exclusions https://reut.rs/3QY4sQ4
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Varun H K)
(([email protected]; +91 9769003463;))
Adds analyst estimates on likely inflows into Adani Ports in paragraph 5
By Bharath Rajeswaran
BENGALURU, May 24 (Reuters) - India's Adani Ports and Special Economic Zone APSE.NS will replace Wipro WIPR.NS in the 30-stock blue-chip S&P BSE Sensex .BSESN, the operator of the index said on Friday.
The BSE, in its semi-annual rebalancing exercise, included the country's largest private port operator, making it the first Adani Group company to join the Sensex, effective June 24.
The Sensex ended the session muted ahead of the announcement. .BO
Two Adani Group companies - Adani Enterprises ADEL.NS and Adani Ports are already part of the other benchmark index NSE Nifty 50 .NSEI.
Adani Ports could see inflows of $252 million after inclusion into the Sensex, while Wipro will likely witness outflows worth $161 million, said Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research.
Adani Ports' inclusion into the Sensex came on the same day when shares of Adani Enterprises recovered in intraday trade to levels last seen in January 2023, before a report by Hindenburg Research triggered a sell-off in Gautam Adani's ports-to-power conglomerate.
Since that report, Adani Ports and Adani Power ADAN.NS have been the best-performing group stocks, rising 86.04% and 157.4%, respectively. They were also the first two Adani companies to bounce back from the drop.
Earlier in May, Adani Ports posted a 76% rise in its fourth-quarter profit, helped by record cargo volumes.
Its stock has jumped 6% this week, its best weekly performance since early February.
Besides the Sensex rejig, REC RECM.NS, HDFC Asset Management HDFA.NS, Canara Bank CNBK.NS, Cummins India CUMM.NS and Punjab National Bank PNBK.NS have been included in the BSE 100 index .BSE100.
The stocks replaced in that index are Page Industries PAGE.NS, SBI Cards and Payment Services SBIC.NS, ICICI Prudential Life Insurance ICIR.NS, Jubilant FoodWorks JUBI.NS and Zee Entertainment Enterprises ZEE.NS.
Performance of Adani group companies since Hindenburg report https://reut.rs/3yAT3iX
BSE Indexes rejig: Inclusions and Exclusions https://reut.rs/3QY4sQ4
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Varun H K)
(([email protected]; +91 9769003463;))
India Government Source: Government May Get Extension From Market Regulator To Meet 75% Public Shareholding Limit For Five State-Run Banks
May 16 (Reuters) -
INDIA GOVERNMENT SOURCE: ASKED 4 PUBLIC SECTOR BANKS INCLUDING CANARA, BANK OF BARODA TO REVIEW INFORMATION TECHNOLOGY INFRASTRUCTURE; BEEN TOLD BANKS’ SYSTEM ROBUST
INDIA GOVERNMENT SOURCE: GOVERNMENT MAY GET EXTENSION FROM MARKET REGULATOR TO MEET 75% PUBLIC SHAREHOLDING LIMIT FOR FIVE STATE-RUN BANKS
Further company coverage: BOB.NS
(([email protected];))
May 16 (Reuters) -
INDIA GOVERNMENT SOURCE: ASKED 4 PUBLIC SECTOR BANKS INCLUDING CANARA, BANK OF BARODA TO REVIEW INFORMATION TECHNOLOGY INFRASTRUCTURE; BEEN TOLD BANKS’ SYSTEM ROBUST
INDIA GOVERNMENT SOURCE: GOVERNMENT MAY GET EXTENSION FROM MARKET REGULATOR TO MEET 75% PUBLIC SHAREHOLDING LIMIT FOR FIVE STATE-RUN BANKS
Further company coverage: BOB.NS
(([email protected];))
India's weight in key MSCI equity index hits another high, to boost inflows
Updates to reflect analyst's revised estimate in paragraph 3
By Bharath Rajeswaran
BENGALURU, May 15 (Reuters) - India's weight in MSCI's Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets.
With this, India has further narrowed the gap with China on the index. While China's weightage in the index will fall to 25% from 25.4%, India's weight will rise to 19% from 18.2%. The changes, announced on Wednesday, will be effective May 31.
The May review will lead to about $2 billion - $2.5 billion inflows into India, Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research said.
Consistent flows from domestic institutional investors and steady participation by foreign investors means that there is potential for India to surpass 20% weightage in the MSCI Global Standard index by the second half of 2024, Pagaria said.
With the May rejig, India's stock count in the MSCI Global Standard index is at 149, the highest ever for the country.
India's rising prominence in emerging markets is due to robust performance of its equities, particularly in the mid-cap segment, amid the relative underperformance by other emerging markets, especially China, analysts have said.
MSCI will add 13 Indian companies, the most among emerging markets, to the Global Standard Index from May end.
These include JSW Energy JSWE.NS, Canara Bank CNBK.NS, Indus Towers INUS.NS in the large-cap segment, and Mankind Pharma MNKI.NS, Bosch BOSH.NS, Solar Industries SLIN.NS, NHPC NHPC.NS, Torrent Power TOPO.NS, Thermax THMX.NS, Jindal Stainless JIST.NS and Sundaram Finance SNFN.NS in the mid-cap index.
Phoenix Mills PHOE.NS and PB Fintech PBFI.NS have been upgraded to the mid-cap index from small-cap by MSCI.
Berger Paints BRGR.NS will be removed from the MSCI index while Indraprastha Gas IGAS.NS and Paytm's parent One 97 Communications PAYT.NS have been downgraded to the small-cap index from the mid-cap index.
Housing Urban Development Corp HUDC.NS and Waaree Renewable Technologies WAAE.BO have been added to the small-cap index.
Separately, 29 Indian stocks have been added to the MSCI Domestic index while 15 have been moved to other categories or removed.
India narrows gap with China in MSCI Global Standard index https://reut.rs/3QNLxaF
Additions to MSCI Global Standard index https://reut.rs/3yimFBw
Potential flows after MSCI Global Standard index rejig https://reut.rs/4bix3rE
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +91 9769003463;))
Updates to reflect analyst's revised estimate in paragraph 3
By Bharath Rajeswaran
BENGALURU, May 15 (Reuters) - India's weight in MSCI's Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets.
With this, India has further narrowed the gap with China on the index. While China's weightage in the index will fall to 25% from 25.4%, India's weight will rise to 19% from 18.2%. The changes, announced on Wednesday, will be effective May 31.
The May review will lead to about $2 billion - $2.5 billion inflows into India, Abhilash Pagaria, head of Nuvama Alternative and Quantitative Research said.
Consistent flows from domestic institutional investors and steady participation by foreign investors means that there is potential for India to surpass 20% weightage in the MSCI Global Standard index by the second half of 2024, Pagaria said.
With the May rejig, India's stock count in the MSCI Global Standard index is at 149, the highest ever for the country.
India's rising prominence in emerging markets is due to robust performance of its equities, particularly in the mid-cap segment, amid the relative underperformance by other emerging markets, especially China, analysts have said.
MSCI will add 13 Indian companies, the most among emerging markets, to the Global Standard Index from May end.
These include JSW Energy JSWE.NS, Canara Bank CNBK.NS, Indus Towers INUS.NS in the large-cap segment, and Mankind Pharma MNKI.NS, Bosch BOSH.NS, Solar Industries SLIN.NS, NHPC NHPC.NS, Torrent Power TOPO.NS, Thermax THMX.NS, Jindal Stainless JIST.NS and Sundaram Finance SNFN.NS in the mid-cap index.
Phoenix Mills PHOE.NS and PB Fintech PBFI.NS have been upgraded to the mid-cap index from small-cap by MSCI.
Berger Paints BRGR.NS will be removed from the MSCI index while Indraprastha Gas IGAS.NS and Paytm's parent One 97 Communications PAYT.NS have been downgraded to the small-cap index from the mid-cap index.
Housing Urban Development Corp HUDC.NS and Waaree Renewable Technologies WAAE.BO have been added to the small-cap index.
Separately, 29 Indian stocks have been added to the MSCI Domestic index while 15 have been moved to other categories or removed.
India narrows gap with China in MSCI Global Standard index https://reut.rs/3QNLxaF
Additions to MSCI Global Standard index https://reut.rs/3yimFBw
Potential flows after MSCI Global Standard index rejig https://reut.rs/4bix3rE
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +91 9769003463;))
MSCI Says Forty-Two Securities Will Be Added To And 121 Securities Will Be Deleted From The MSCI ACWI Index
May 14 (Reuters) - Msci Inc MSCI.N:
MSCI GLOBAL STANDARD INDEXES MAY 2024 INDEX REVIEW
FORTY-TWO SECURITIES WILL BE ADDED TO AND 121 SECURITIES WILL BE DELETED FROM THE MSCI ACWI INDEX
MSCI- THREE LARGEST ADDITIONS TO MSCI EMERGING MARKETS INDEX WILL BE CHANDRA ASRI PACIFIC (INDONESIA), JSW ENERGY (INDIA) AND CANARA BANK (INDIA)
MSCI - THREE LARGEST ADDITIONS TO MSCI WORLD INDEX MEASURED BY FULL COMPANY MARKET CAPITALIZATION WILL BE MICROSTRATEGY (USA), PURE STORAGE (USA) AND EMCOR GROUP (USA)
MSCI- MSCI WILL CONTINUE TO NOT IMPLEMENT CHANGES AS PART OF THIS INDEX REVIEW FOR ANY SECURITIES CLASSIFIED IN BANGLADESH FOR THE MSCI BANGLADESH
MSCI- MSCI WILL RESUME IMPLEMENTATION OF INDEX REVIEW CHANGES FOR KENYAN AND EGYPTIAN SECURITIES IN MSCI EQUITY INDEXES STARTING THIS INDEX REVIEW
MSCI- THERE WILL BE 6 ADDITIONS TO AND 70 DELETIONS FROM THE MSCI CHINA A ONSHORE INDEX
Source text for Eikon: [ID:]
Further company coverage: MSCI.N
(([email protected];))
May 14 (Reuters) - Msci Inc MSCI.N:
MSCI GLOBAL STANDARD INDEXES MAY 2024 INDEX REVIEW
FORTY-TWO SECURITIES WILL BE ADDED TO AND 121 SECURITIES WILL BE DELETED FROM THE MSCI ACWI INDEX
MSCI- THREE LARGEST ADDITIONS TO MSCI EMERGING MARKETS INDEX WILL BE CHANDRA ASRI PACIFIC (INDONESIA), JSW ENERGY (INDIA) AND CANARA BANK (INDIA)
MSCI - THREE LARGEST ADDITIONS TO MSCI WORLD INDEX MEASURED BY FULL COMPANY MARKET CAPITALIZATION WILL BE MICROSTRATEGY (USA), PURE STORAGE (USA) AND EMCOR GROUP (USA)
MSCI- MSCI WILL CONTINUE TO NOT IMPLEMENT CHANGES AS PART OF THIS INDEX REVIEW FOR ANY SECURITIES CLASSIFIED IN BANGLADESH FOR THE MSCI BANGLADESH
MSCI- MSCI WILL RESUME IMPLEMENTATION OF INDEX REVIEW CHANGES FOR KENYAN AND EGYPTIAN SECURITIES IN MSCI EQUITY INDEXES STARTING THIS INDEX REVIEW
MSCI- THERE WILL BE 6 ADDITIONS TO AND 70 DELETIONS FROM THE MSCI CHINA A ONSHORE INDEX
Source text for Eikon: [ID:]
Further company coverage: MSCI.N
(([email protected];))
Canara Bank- Sees Gross NPA (Global) For Period Ending March 31, 2025 At 3.50%
May 8 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK LTD- SEE GROSS NPA (GLOBAL) FOR PERIOD ENDING MARCH 31, 2025 AT 3.50%
CANARA BANK LTD- SEES GROSS PCR (GLOBAL) FOR PERIOD ENDING MARCH 31, 2025 AT 90%
CANARA BANK LTD- SEES ADVANCES GROWTH (GLOBAL) FOR PERIOD ENDING MARCH 31, 2025 AT 10%
CANARA BANK - Q4 NIM 3.07%
CANARA BANK - SEES NIM (GLOBAL)(ANNUALIZED) AT 2.90% FOR PERIOD ENDING MARCH 31, 2025
Source text for Eikon: ID:nNSE2dqkL7
Further company coverage: CNBK.NS
(([email protected];))
May 8 (Reuters) - Canara Bank Ltd CNBK.NS:
CANARA BANK LTD- SEE GROSS NPA (GLOBAL) FOR PERIOD ENDING MARCH 31, 2025 AT 3.50%
CANARA BANK LTD- SEES GROSS PCR (GLOBAL) FOR PERIOD ENDING MARCH 31, 2025 AT 90%
CANARA BANK LTD- SEES ADVANCES GROWTH (GLOBAL) FOR PERIOD ENDING MARCH 31, 2025 AT 10%
CANARA BANK - Q4 NIM 3.07%
CANARA BANK - SEES NIM (GLOBAL)(ANNUALIZED) AT 2.90% FOR PERIOD ENDING MARCH 31, 2025
Source text for Eikon: ID:nNSE2dqkL7
Further company coverage: CNBK.NS
(([email protected];))
Greenchef Appliances Approves Availing Fresh Term Loan From Canara Bank For Machinery Purchase
April 4 (Reuters) - Canara Bank Ltd CNBK.NS:
GREENCHEF APPLIANCES - APPROVED AVAILING FRESH TERM LOAN FROM CANARA BANK FOR MACHINERY PURCHASE
Source text for Eikon: ID:nNSE8N2D9G
Further company coverage: CNBK.NS
(([email protected];;))
April 4 (Reuters) - Canara Bank Ltd CNBK.NS:
GREENCHEF APPLIANCES - APPROVED AVAILING FRESH TERM LOAN FROM CANARA BANK FOR MACHINERY PURCHASE
Source text for Eikon: ID:nNSE8N2D9G
Further company coverage: CNBK.NS
(([email protected];;))
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What does Canara Bank do?
Canara Bank, founded in 1906 by Shri Ammembal Subba Rao Pai, offers a wide range of banking products and services including savings accounts, loans, insurance, and corporate banking services like cash management and IPO monitoring.
Who are the competitors of Canara Bank?
Canara Bank major competitors are IDBI, Union Bank Of India, Indian Bank, Indian Overseas Bank, PNB, Bank Of India, Bank Of Baroda. Market Cap of Canara Bank is ₹87,087 Crs. While the median market cap of its peers are ₹88,277 Crs.
Is Canara Bank financially stable compared to its competitors?
Canara Bank seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Canara Bank pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Canara Bank latest dividend payout ratio is 19.12% and 3yr average dividend payout ratio is 19.24%
How has Canara Bank allocated its funds?
Company has been allocating majority of new resources to productive uses like advances.
How strong is Canara Bank balance sheet?
Latest balance sheet of Canara Bank is weak, and historically as well.
Is the profitablity of Canara Bank improving?
Yes, profit is increasing. The profit of Canara Bank is ₹16,032 Crs for TTM, ₹15,279 Crs for Mar 2024 and ₹11,255 Crs for Mar 2023.
Is Canara Bank stock expensive?
Canara Bank is expensive when considering the Price to Book, however latest PE is < 3 yr avg PE. Latest PE of Canara Bank is 5.3 while 3 year average PE is 5.9. Also latest Price to Book of Canara Bank is 0.84 while 3yr average is 0.7.
Has the share price of Canara Bank grown faster than its competition?
Canara Bank has given better returns compared to its competitors. Canara Bank has grown at ~2.34% over the last 10yrs while peers have grown at a median rate of -1.79%
Is the promoter bullish about Canara Bank?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Canara Bank is 62.93% and last quarter promoter holding is 62.93%.
Are mutual funds buying/selling Canara Bank?
The mutual fund holding of Canara Bank is increasing. The current mutual fund holding in Canara Bank is 4.67% while previous quarter holding is 4.26%.