Portfolio Update:-
Added Canara Bank – 5% of Allocation.
CANARA Bank currently trades at approximately 1.04 times its Book Value, notably below the mean P/B ratio of around 1.4. Additionally, it maintains a Price to Earnings ratio of 6. The bank offers a dividend yield of 2%. Corporate loans represent 43% of its total loan portfolio, with agriculture accounting for 23%, followed by retail at 17% and MSM. Within retail, housing loans constitute 55%, trailed by personal loans at 22%, vehicle loans at 12%, and education loans at 11%. Noteworthy improvements include a declining trend in NPAs and an upward trajectory in profitability, attributed to an increase in Other Income.
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