Canara Bank (CANBK) — share price & stock analysis
Bad loans have fallen from 5.2% to 1.8%, profits are compounding — and the market still prices it below its own book value.
Canara Bank (CANBK) trades at ₹126 as of 1 July 2026, up 10% over the past year — trailing NIFTY 500 for 3 weeks. The machine reads this as turnaround: bad loans have fallen from 5.2% to 1.8%, profits are compounding — and the market still prices it below its own book value. the price is in Stage 4 — declining, 1 weeks in; the business cycle reads DEEP CYCLICAL / EXPANSION. Fundamentals-momentum score: 50/100 (mixed).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹1,14,544 Cr
- P/BV
- 0.97×
- ROE
- 16.1%
- Book value / share
- ₹130
- Revenue (FY26)
- ₹1,26,371 Cr
- Profit after tax (FY26)
- ₹19,712 Cr
- Weinstein stage
- Stage 4 (1 weeks)
- Data as of
- 1 July 2026
Profits swing violently in this business — real losses in FY16 and FY18 and FY20. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are mid-band, and valuation history is thin. That reads as EXPANSION — the comfortable middle — the easy money off the bottom is made; from here the story has to keep delivering.net_profit
2 of the 5 things we track are currently moving the right way — some things working, some not.
Where the levels actually stand: ROE 16% — a genuinely good bank; GNPA 1.8% — workable, not pristine; the spread is mid-band vs its own history. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, lending and bad loans count double.
The price is in a downtrend — fighting it is expensive
STAGE 4 · DECLINING · 1 WEEKSPrice trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 4: declining — 1 week so far, confirmed.stage
The price is below its falling 200-day average — history says most of the damage in stocks happens here. Cheap can get cheaper in Stage 4.dma_200
Trailing NIFTY 500 for 3 weeks — relative strength is the market’s live opinion, and right now it is against it.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Feb 16 | 31.4 | 51.2 | 38.3 | 4 |
| May 16 | 35.7 | 45.3 | 37.2 | 4 |
| Aug 16 | 49.8 | 44.9 | 45.8 | 4 |
| Nov 16 | 56.4 | 50.8 | 58.3 | 2 |
| Jan 17 | 55.3 | 53.3 | 55.5 | 2 |
| Apr 17 | 64.6 | 56.0 | 59.9 | 2 |
| Jul 17 | 73.5 | 62.5 | 69.3 | 2 |
| Oct 17 | 63.0 | 64.7 | 66.7 | 2 |
| Dec 17 | 72.1 | 68.8 | 73.4 | 2 |
| Mar 18 | 49.0 | 65.7 | 59.6 | 4 |
| Jun 18 | 53.9 | 59.9 | 53.1 | 4 |
| Sep 18 | 54.1 | 57.0 | 54.3 | 4 |
| Nov 18 | 51.2 | 53.5 | 49.9 | 4 |
| Feb 19 | 44.4 | 52.1 | 48.9 | 4 |
| May 19 | 49.1 | 52.6 | 52.5 | 2 |
| Aug 19 | 45.7 | 52.5 | 51.2 | 3 |
| Nov 19 | 41.4 | 47.2 | 40.3 | 4 |
| Jan 20 | 43.8 | 45.6 | 43.4 | 4 |
| Apr 20 | 17.4 | 37.4 | 24.9 | 4 |
| Jul 20 | 20.9 | 29.3 | 20.3 | 4 |
| Oct 20 | 17.9 | 25.1 | 19.7 | 4 |
| Dec 20 | 24.1 | 23.1 | 21.4 | 4 |
| Mar 21 | 30.2 | 26.1 | 29.9 | 2 |
| Jun 21 | 31.2 | 27.6 | 30.2 | 2 |
| Sep 21 | 32.1 | 28.9 | 30.8 | 2 |
| Nov 21 | 40.5 | 33.3 | 40.0 | 2 |
| Feb 22 | 47.6 | 38.5 | 46.1 | 2 |
| May 22 | 38.7 | 41.3 | 44.9 | 2 |
| Aug 22 | 44.3 | 41.2 | 42.5 | 4 |
| Oct 22 | 57.6 | 44.1 | 48.2 | 2 |
| Jan 23 | 63.8 | 52.7 | 62.3 | 2 |
| Apr 23 | 58.3 | 54.8 | 57.9 | 2 |
| Jul 23 | 66.7 | 57.8 | 61.4 | 2 |
| Sep 23 | 75.3 | 62.5 | 69.2 | 2 |
| Dec 23 | 85.2 | 70.3 | 81.4 | 2 |
| Mar 24 | 110 | 85.6 | 107 | 2 |
| Jun 24 | 119 | 99.0 | 116 | 2 |
| Aug 24 | 112 | 105 | 113 | 2 |
| Nov 24 | 97.0 | 105 | 103 | 4 |
| Feb 25 | 85.6 | 102 | 96.2 | 4 |
| May 25 | 97.6 | 97.0 | 93.0 | 4 |
| Aug 25 | 106 | 104 | 110 | 2 |
| Oct 25 | 126 | 109 | 119 | 2 |
| Jan 26 | 157 | 126 | 147 | 2 |
| Apr 26 | 141 | 134 | 141 | 2 |
| Jun 26 | 130 | 134 | 134 | 3 |
| Jul 26 | 126 | 133 | 133 | 4 |
Losses, then a rebuild: profits are at an all-time high
Over 12 years, income went from ₹39,570 Cr to ₹1,26,371 Cr (about 10% a year), and profit from ₹2,672 Cr to ₹19,712 Cr.revenuenet_profit
The books show real losses in FY16 and FY18 and FY20 (worst: ₹−3,873 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY14 | 39,570 |
| FY15 | 43,813 |
| FY16 | 44,039 |
| FY17 | 41,457 |
| FY18 | 41,345 |
| FY19 | 47,951 |
| FY20 | 49,759 |
| FY21 | 70,253 |
| FY22 | 70,614 |
| FY23 | 85,885 |
| FY24 | 1,10,519 |
| FY25 | 1,21,601 |
| FY26 | 1,26,371 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY14 | 2,672 |
| FY15 | 2,931 |
| FY16 | -2,535 |
| FY17 | 1,411 |
| FY18 | -3,873 |
| FY19 | 696 |
| FY20 | -1,921 |
| FY21 | 2,957 |
| FY22 | 6,158 |
| FY23 | 11,345 |
| FY24 | 15,401 |
| FY25 | 17,692 |
| FY26 | 19,712 |
Data: Spread % by year
| Period | Spread % (%) |
|---|---|
| FY14 | 22.7 |
| FY15 | 22.1 |
| FY16 | 22.2 |
| FY17 | 23.9 |
| FY18 | 29.6 |
| FY19 | 32.6 |
| FY20 | 28.0 |
| FY21 | 35.7 |
| FY22 | 39.1 |
| FY23 | 38.3 |
| FY24 | 34.7 |
| FY25 | 32.0 |
| FY26 | 29.5 |
Interest income has flattened
Mar 26 income was ₹31,839 Cr, up 1% on a year ago. A bank grows by lending more and charging well — this line is both together.revenue
Data: Quarterly interest + fee income
| Period | Income (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 25,451 | – |
| Sep 23 | 27,290 | – |
| Dec 23 | 28,492 | – |
| Mar 24 | 29,286 | – |
| Jun 24 | 29,173 | 14.6 |
| Sep 24 | 30,182 | 10.6 |
| Dec 24 | 30,751 | 7.9 |
| Mar 25 | 31,496 | 7.5 |
| Jun 25 | 31,523 | 8.1 |
| Sep 25 | 32,072 | 6.3 |
| Dec 25 | 30,938 | 0.6 |
| Mar 26 | 31,839 | 1.1 |
The squeeze is easing — the spread bottomed at 27% and is mending
Of every ₹100 of interest the bank earns, ₹69 goes straight out as interest on deposits and borrowings. It keeps ₹31 — down 1 point from a year ago.revenueinterest_expense
The visible arc: squeezed from 36% down to 27% (Dec 25) as deposits repriced faster than loans, and recovering since. The direction matters more than the level now.interest_expense
Data: Share of interest income kept, quarterly
| Period | Spread kept (%) |
|---|---|
| Jun 23 | 35.8 |
| Sep 23 | 34.3 |
| Dec 23 | 34.6 |
| Mar 24 | 34.4 |
| Jun 24 | 33.0 |
| Sep 24 | 32.3 |
| Dec 24 | 31.2 |
| Mar 25 | 31.6 |
| Jun 25 | 30.2 |
| Sep 25 | 30.1 |
| Dec 25 | 26.6 |
| Mar 26 | 30.8 |
Bad loans are healing — from a worst of 5.2% (Jun 23) to 1.8%
₹1.8 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying — down from ₹5.2 at the Jun 23 worst. After the money already set aside, the true exposure is 0.4%.gross_npa_pctnet_npa_pct
Falling bad loans still help — less new money needs setting aside — but this year’s profit growth is coming from the lending engine itself (interest income), not from provision releases. The healing cleans the book; the growth is earned.gross_npa_pctrevenue
Data: Bad loans as % of the book, quarterly
| Period | Gross NPA (%) | Net NPA (after provisions) (%) |
|---|---|---|
| Jun 23 | 5.2 | 1.6 |
| Sep 23 | 4.8 | 1.4 |
| Dec 23 | 4.4 | 1.3 |
| Mar 24 | 4.2 | 1.3 |
| Jun 24 | 4.1 | 1.2 |
| Sep 24 | 3.7 | 1.0 |
| Dec 24 | 3.3 | 0.9 |
| Mar 25 | 2.9 | 0.7 |
| Jun 25 | 2.7 | 0.6 |
| Sep 25 | 2.4 | 0.5 |
| Dec 25 | 2.1 | 0.5 |
| Mar 26 | 1.8 | 0.4 |
Profit declined 11%
Mar 26 profit was ₹4,575 Cr, down 11% on last year — earnings per share of ₹5.04.net_profiteps
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 3,755 | – |
| Sep 23 | 3,829 | – |
| Dec 23 | 3,827 | – |
| Mar 24 | 3,991 | – |
| Jun 24 | 4,098 | 9.1 |
| Sep 24 | 4,227 | 10.4 |
| Dec 24 | 4,256 | 11.2 |
| Mar 25 | 5,111 | 28.1 |
| Jun 25 | 3,233 | -21.1 |
| Sep 25 | 4,896 | 15.8 |
| Dec 25 | 5,174 | 21.6 |
| Mar 26 | 4,575 | -10.5 |
The biggest force in the bridge: fees and other income.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 5,111 |
| More interest income | +343 |
| Costlier deposits | −468 |
| Running costs & provisions | +3,254 |
| Fees & other income | −4,061 |
| Tax | +396 |
| PAT Mar 26 | 4,575 |
You are paying near the top of its own range
Today you pay ₹0.97 for every ₹1 of book value, against a long-run median of ₹0.60. It has traded cheaper than this only 83% of the time since 2016.pb_ratio
Data: Price-to-book over time (weekly) (sampled — full series in the embedded dataset)
| Period | P/BV (x) |
|---|---|
| Feb 16 | 0.2 |
| May 16 | 0.3 |
| Jul 16 | 0.5 |
| Sept 16 | 0.5 |
| Dec 16 | 0.6 |
| Feb 17 | 0.6 |
| Apr 17 | 0.6 |
| Jun 17 | 0.6 |
| Sept 17 | 0.6 |
| Nov 17 | 0.7 |
| Jan 18 | 0.6 |
| Apr 18 | 0.5 |
| Jun 18 | 0.5 |
| Dec 18 | 0.5 |
| Mar 19 | 0.5 |
| May 19 | 0.5 |
| Jul 19 | 0.5 |
| Sept 19 | 0.4 |
| Dec 19 | 0.3 |
| Feb 20 | 0.4 |
| Apr 20 | 0.2 |
| Jul 20 | 0.2 |
| Sept 20 | 0.2 |
| Nov 20 | 0.2 |
| Jan 21 | 0.4 |
| Apr 21 | 0.4 |
| Jun 21 | 0.4 |
| Aug 21 | 0.4 |
| Nov 21 | 0.6 |
| Jan 22 | 0.6 |
| Mar 22 | 0.6 |
| Jun 22 | 0.6 |
| Aug 22 | 0.6 |
| Oct 22 | 0.7 |
| Dec 22 | 0.8 |
| Mar 23 | 0.7 |
| May 23 | 0.8 |
| Jul 23 | 0.8 |
| Oct 23 | 0.8 |
| Dec 23 | 0.9 |
| Feb 24 | 1.2 |
| May 24 | 1.4 |
| Jul 24 | 1.0 |
| Sept 24 | 1.0 |
| Nov 24 | 0.9 |
| Feb 25 | 0.8 |
| Apr 25 | 0.9 |
| Jun 25 | 0.9 |
| Sept 25 | 0.9 |
| Nov 25 | 1.1 |
| Jan 26 | 1.2 |
| Apr 26 | 1.1 |
| Jun 26 | 1.1 |
| Jul 26 | 1.0 |
The owners aren’t moving
Promoters hold 62.9%, essentially unchanged. Foreign funds own 14.2%, domestic funds 10.9%.promoters_pctfiis_pctdiis_pct
Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t.
Meanwhile domestic funds have been the sellers — from 15.9% to 10.9% over the window. Someone on the other side of the table disagrees; both sides count.diis_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 23 | 62.9 | 8.9 | 15.9 |
| Sep 23 | 62.9 | 10.2 | 14.9 |
| Dec 23 | 62.9 | 11.2 | 14.3 |
| Mar 24 | 62.9 | 10.6 | 14.4 |
| Jun 24 | 62.9 | 11.9 | 11.2 |
| Sep 24 | 62.9 | 11.3 | 11.7 |
| Dec 24 | 62.9 | 11.1 | 11.7 |
| Mar 25 | 62.9 | 10.5 | 11.9 |
| Jun 25 | 62.9 | 11.4 | 11.4 |
| Sep 25 | 62.9 | 11.9 | 12.2 |
| Dec 25 | 62.9 | 14.6 | 10.5 |
| Mar 26 | 62.9 | 14.2 | 10.9 |
- Promoters are not selling. Their stake has moved 0.1 points or less in 8 quarters — it sits at 62.9%.promoters_pct
- There is no new bad-loan cycle forming — GNPA is at or near its 8-quarter low of 1.84%.gross_npa_pct
One to watch, not one to study deeper yet
The numbers say be careful, and the price is roughly fair to the delivery so far.
Best thing in the data: bad loans improving (2.9% → 1.8%).gross_npa_pct
Biggest worry: return on equity falling (18.0% → 16.0%).roe_pct
One dissent worth hearing: our quality & safety lens reads positive — “Quality & Safety: 20.0/30 (financial). Earnings stability: 8/8 quarters profitable → 5/5. Return durability: Avg ROE 15.2% over 5Y → 4/6. Margin quality: NIM -1”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Canara Bank do?
Canara Bank was merged with erstwhile Syndicate Bank in FY21. Canara was incorporated in 1906 and nationalised in 1969, along with 13 other major commercial banks of India, by the GoI. The bank is headquartered in Bangalore.Canara Bank was merged with erstwhile Syndicate Bank (e-SB) on April 1, 2020. It is listed in the Banks - PSU sector with a market capitalisation of ₹1,14,544 Cr.
What is Canara Bank's share price?
As of 1 July 2026, Canara Bank trades at ₹126, up 10% over the past year, with a market capitalisation of ₹1,14,544 Cr. Trailing NIFTY 500 for 3 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Canara Bank's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Canara Bank's intrinsic value at ₹297 per share under base assumptions (bear ₹165, bull ₹383), against the current price of ₹126 — a 123% margin of safety. The current price already implies roughly -1% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What did Canara Bank report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 income was ₹31,839 Cr, up 1% on a year ago. A bank grows by lending more and charging well — this line is both together. Mar 26 profit was ₹4,575 Cr, down 11% on last year — earnings per share of ₹5.04. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is Canara Bank growing?
Interest income has flattened. Mar 26 income was ₹31,839 Cr, up 1% on a year ago. A bank grows by lending more and charging well — this line is both together.
Are Canara Bank's profits growing?
Profit declined 11%. Mar 26 profit was ₹4,575 Cr, down 11% on last year — earnings per share of ₹5.04.
How much of its interest income does Canara Bank keep?
The squeeze is easing — the spread bottomed at 27% and is mending. Of every ₹100 of interest the bank earns, ₹69 goes straight out as interest on deposits and borrowings. It keeps ₹31 — down 1 point from a year ago.
What is Canara Bank's long-term growth record?
Revenue grew from ₹39,570 Cr in FY14 to ₹1,26,371 Cr in FY26 — a 10.2% compound annual growth rate over 12 years. Profit after tax compounded at 18.1% over the same period (₹2,672 Cr → ₹19,712 Cr).
Is Canara Bank stock in an uptrend?
The price is in a downtrend — fighting it is expensive. Canara Bank is in Stage 4 — declining, 1 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Is Canara Bank beating the NIFTY 500?
No — trailing NIFTY 500 for 3 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is Canara Bank in its business cycle?
The data reads Canara Bank as a deep cyclical business currently in its expansion phase — earnings at an all-time high for this company. Profits swing violently in this business — real losses in FY16 and FY18 and FY20. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns Canara Bank — what is the promoter holding?
Promoters hold 62.9%, essentially unchanged. Foreign funds own 14.2%, domestic funds 10.9%. Institutions buying while the story develops is the market’s quiet vote of confidence — they meet management, you don’t. Shareholding is from Screener's quarterly filings data.
How is Canara Bank's asset quality?
Bad loans are healing — from a worst of 5.2% (Jun 23) to 1.8%. ₹1.8 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying — down from ₹5.2 at the Jun 23 worst. After the money already set aside, the true exposure is 0.4%.
What is the bull case for Canara Bank?
Bad loans have fallen from 5.2% to 1.8%, profits are compounding — and the market still prices it below its own book value. Best thing in the data: bad loans improving (2.9% → 1.8%). Interest income has flattened.
What is the bear case for Canara Bank — what could break the story?
Biggest worry: return on equity falling (18.0% → 16.0%). Two quarters of bad loans reversing would kill this story. The nearest-term thing to watch: a single quarter of GNPA rising again would put this story on watch. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Canara Bank a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: one to watch, not one to study deeper yet. The numbers say be careful, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is low priority at 50% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.