The Canara Bank share price stayed in focus in the stock market today. The momentum did not fade. Instead, it built up.
For the second straight session on February 23, the stock moved higher. It climbed 2% and touched a day’s high of ₹157 per share. This steady rise has shifted the short-term narrative around the counter.
Month-to-date, the stock is now up 6.3%. That single move has wiped out January’s decline. More importantly, Canara Bank share price has now turned positive for 2026.
In a market that has seen selective buying, this move stands out.
Market Performance: Second Day of Strength in Stock Market Today
In the stock market today, Canara Bank share price extended its gains calmly, without sharp spikes.
Key highlights from the session:
- Up 2% intraday
- Touched ₹157 per share
- 6.3% gain so far this month
- Erased January’s 5% decline
- Turned positive for 2026
After a strong 54% return in 2025, the stock had started 2026 on a weaker note. January saw a 5% correction.
Profit booking was visible. Investors appeared to be locking in gains after last year’s rally. At the same time, quarterly numbers that came in softer than expected added pressure.
But February is telling a slightly different story.
The buying interest has returned. Not aggressive. But steady.
Why Did Canara Bank Share Price Correct in January?
Let’s take a step back.
After delivering a 54% return in 2025, expectations were naturally high. When numbers came in and margins showed pressure, the market reacted.
The stock slipped 5% in January.
The growth outlook did not collapse. But sentiment cooled.
In the stock market today, sentiment matters as much as numbers. And when profit booking combines with modest earnings pressure, stocks correct.
Now, as February progresses, Canara Bank share price is regaining lost ground.
December Quarter Earnings: Breaking Down the Numbers
The December-ending quarter offers clarity on what moved the stock.
Net Profit
- ₹5,155 crore in Q3
- Driven mainly by higher other income
The net profit jump was supported by a sharp improvement in non-core revenue streams.
Other Income
- ₹7,899.4 crore
- Up 6% year-on-year
- Previous year: ₹5,802 crore
This segment gave meaningful support to earnings.
Net Interest Income (NII)
- ₹9,252 crore
- Growth of 1.13% year-on-year
- Global advances grew 13.59%
While loan growth was healthy, core income growth remained muted. That’s where margins come into play.
Net Interest Margins Under Pressure
Margins narrowed during the quarter.
- NIM: 2.5%
- Earlier: 2.83%
- Compression of 33 basis points YoY
This tightening in margins impacted the pace of core income growth.
In banking, margins are closely watched in the stock market today. Even a small compression influences sentiment.
Despite that, the bank maintained profitability growth through other income streams.
Asset Quality: Gradual Improvement Continues
One important positive for the Canara Bank share price story is asset quality.
Here’s what the data shows:
- Fresh slippages: ₹1,857 crore
- Previous quarter: ₹2,031 crore
- Write-offs: ₹3,120 crore
- September quarter: ₹3,463 crore
Non-performing assets also improved:
- Gross NPA: 2.08%
- Earlier: 2.35%
- Net NPA: 0.45%
- Earlier: 0.54%
These numbers show stability.
In public sector banks, asset quality trends often define medium-term sentiment in the stock market today. Lower slippages and better NPA ratios bring confidence.
Foreign Investors Increase Stake in Q3
Ownership patterns also shifted during the December quarter.
Foreign investors raised their stake:
- Increased to 14.6%
- Earlier: 11.9% in September quarter
Retail shareholders moved the other way:
- Reduced to 12%
- Earlier: 12.9%
Rekha Jhunjhunwala also trimmed her holding slightly:
- 1.54% stake
- Earlier: 1.57%
This change in shareholding is important context when tracking Canara Bank share price trends.
PSU Banks Attract Interest as Tech Sees Outflows
There’s also a broader backdrop.
State-run banks are witnessing inflows even as global funds pulled back from other segments.
As reported by Bloomberg:
- Global funds sold ₹110 billion worth of Indian tech shares
- Data covers first half of February
- Could mark biggest tech withdrawal since August
In contrast, PSU banks have seen interest supported by valuations and growth visibility.
That rotation is part of what investors are watching in the stock market today.
Canara Bank Share Price: Historical Performance Snapshot
Zooming out gives perspective.
Over the last five calendar years, Canara Bank share price has delivered double-digit returns every single year.
Performance record:
- 2022: +67%
- 2021: +55%
- 2025: +54.72%
Cumulative gains:
- 3-year return: 186%
- 5-year return: 407%
Among state-owned banks, the stock has emerged as a consistent performer over the long term.
This historical trend adds depth to the current price movement in the stock market today.
Company Snapshot: Canara Bank at a Glance
Canara Bank is a public sector lender with strong presence across retail and corporate banking.
Recent operational highlights:
- Global advances growth: 13.59%
- Stable asset quality metrics
- Strong other income performance
- Improving slippages trend
The balance between profitability and asset quality continues to define investor attention.
Summary: Where Canara Bank Share Price Stands Today?
In the stock market today, Canara Bank share price has quietly regained momentum.
Here’s the key takeaway:
- Stock up 2% on February 23
- Second straight day of gains
- 6.3% rise in February
- Turned positive for 2026
- Net profit at ₹5,155 crore
- NIM at 2.5%
- Gross NPA at 2.08%
- Foreign stake increased to 14.6%
- 5-year return stands at 407%
After correcting 5% in January, the stock has stabilized.
The earnings mix shows margin pressure, but stable asset quality and improving ownership trends are adding balance.
For now, Canara Bank share price remains firmly on the radar in the stock market today, not because of noise — but because of numbers.
Source: Livemint
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