Featured post

Mera Hauchongba: The Unique Festival of Manipur

Image
Mera Hauchongba: The Unique Festival of Manipur Mera Hauchongba is a vibrant and significant festival celebrated in Manipur, particularly by the Manipuri Meitei community. This festival, which usually occurs in the month of September or October, holds immense cultural and spiritual importance, showcasing the rich traditions and values of the state. It is a colorful event filled with rituals, music, dance, and a deep sense of community. Significance of Mera Hauchongba The festival of Mera Hauchongba signifies the beginning of the agricultural season and is primarily dedicated to the worship of the deities who safeguard the crops and elders of the community. It is a time for expressing gratitude for the harvest and seeking blessings for a bountiful yield in the upcoming year. The name "Mera Hauchongba" translates to "the coming of the Houchong," referring to the arrival of the new harvest and the joy it brings. Rituals and Celebrations Mera Hauchongba is celebrated wi...
Post a Comment

Following the PSU stock split, Canara Bank shares experienced a 5% increase.

 

 

 

canara bank

     As the scrip was divided into shares with lower face value, Canara Bank Ltd's share price increased by 5 per cent during Wednesday's trade. The fully paid up shares of Canara Bank, having face value of Rs 10 each, have been sub-divided into five fully paid up shares of Canara Bank with face value of Rs 2 each.They have thus turned ex-date for the corporate action. 

 

Adjusting for the split, the stock stood at Rs 118.40 on BSE, up 4.54 per cent. Canara Bank shares have become more affordable for retail investors to buy, which is seen as boosting liquidity on the counter.

It is also seen broadening the retail investors base. The bank has a 6 per cent stake owned by 7,39,996 retail investors who have up to Rs 2 lakh shares.

Rekha Rakesh Jhunjhuwala (1.45% stake) and 337 other high-net-worth individuals together owned a combined 4.65 percent stake in the PSU lender as of March 31.

The bank's shares have increased to 907,06,51,260 from 181,41,30,252 previously. Stocks that are already owned are divided into stocks with lower face values during a stock split.

The impact on share capital is negligible because it is not similar to bonus shares, where additional shares are given to existing shareholders based on the number of shares owned.

The announcement of bonus shares is different from a stock split in that it distributes gains from accumulated earnings without paying cash to shareholders. As new shares are issued, they reduce reserves and transfer money to share capital.

With the bank consistently maintaining stable net interest margin, ongoing moderation in credit costs and sustained return on asset of 1 per cent for several quarters, JM Financial expects Canara Bank's rerating to continue going ahead.

Comments

Post a Comment

Please do not enter any spam link in the comment box.

Post You don't want to miss

Over 300 Nurses of Kolkata Hospitals Resigned, Left For Home “Manipur Clarifies Stand”

Image
                                  OVER 300 Nurses of Kolkata Hospitals Resigned                     W hile both Kolkata and Howrah are fighting with a number of increased COVID-19 cases, over 300 nurses employed in various private hospitals have quit their jobs and left for their homes in Manipur, Tripura, Odisha, Jharkhand etc. The Association of Hospitals of Eastern India (AHEI), a non-statutory body with 17 private medical facilities in Kolkata as members, has written to Chief Secretary Rajiva Sinha seeking his intervention in resolving the crisis. At least 185 nurses left for Manipur earlier this week. On Saturday, 169 followed suit — 92 hailing from Manipur, 43 from Tripura, 32 from Odisha and two from Jharkhand, sources at the city’s private hospitals said. Taking to Facebook, however, Manipur Chief Minister Nongthombam B...
Read more

Germany overtook France, India overtook France, overtook Russia over death

Image
                     T he number of corona virus cases in India is increasing day by day. The increase in the number of victims on Saturday surpassed that of Sunday. That number was reprinted on Monday. As a result of this increase, the total number of victims in the country has crossed one Lakh 90 thousand. Besides, India moved from ninth to seventh place in terms of the total number of victims in the world. Germany and France topped. According to the data provided by the Union Ministry of Health, 8,392 people have been newly infected with Kovid in the last 24 hours. Due to this increase, the total number of infected people in the country is one lakh 90 thousand 535 people. Maharashtra, Tamil Nadu, Delhi and Gujarat are in the forefront among the states in terms of infestation. In addition to the number of deaths. India had already overtaken China in terms of total deaths. According to Johns Hopkins University and Medicine, India h...
Read more

THE SUPER CYCLON 'AMPAN' WILL HIT AT HIGH SPEED ON WEDNESDAY AFTERNOON

Image
WHAT IS CYCLONE AMPHAN? "The cyclonic storm ‘Amphan’ pronounced as UM-PUN has intensified into a ‘super cyclone’ and is expected to hit the West Bengal and Bangladesh coasts as a very severe cyclone with a wind speed up to 185 km per hour."                     H urricane Ampan is getting stronger and stronger. Ampan can fall from Digha in this state to any area between Hatia Island in Bangladesh. Ampan's strength will increase several times in the next 24 hours. According to meteorologists, Ampan will look like a 'Super Cyclone Storm'. The speed of rotation of this very strong cyclone can be up to 160 kilometers per hour. The worst-hit areas are Digha, Mandarmoni, Sundarbans beaches and coastal areas. Raw houses can collapse due to the storm. There is a possibility of uprooting trees and electricity poles. Coastal residents are being evacuated as a precautionary measure to prevent casualties. The state administration ...
Read more