Stock under Rs 101: PSU bank share surges after making loans cheaper - Details

Canara Bank Share Price: Shares of PSU (public sector undertaking) bank gained nearly four per cent on Monday, i.e. May 12, 2025. The latest action in the counter is being seen after the bank made loans linked to the benchmark cheaper by slashing the marginal cost of funds-based lending rate (MCLR) by 10 basis points (0.10 percentage points). The new MCLR of the bank is effective from today. The counter opened gap-up with a gain of 2.42 per cent at Rs 100.01 on the BSE against the previous close of Rs 97.65. The scrip gained further and touched the intraday high of Rs 101.42 - a gain of 3.86 per cent from the previous close. 

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