What's Hot

    Budget’s main focus is growth; Mumbai should be liking proposals: FM

    February 4, 2023

    Privatisation of 2 public sector banks and 1 general insurance firm not on the table: DIPAM Secretary

    February 3, 2023

    Many EPF account holders still await interest credit for 2021-22

    February 2, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    Invest PolicyInvest Policy
    Subscribe
    • Banking
    • Economy
    • Finance
    • Insurance
      • LIC
    • Investment
    • Market
    • Money
    • MF
    • More
      • Scheme
      • Property
    Invest PolicyInvest Policy
    Home Not only Rakesh Jhunjhunwala, mutual funds and LIC also trust this banking stock, has given 43% return in 1 year
    Banking

    Not only Rakesh Jhunjhunwala, mutual funds and LIC also trust this banking stock, has given 43% return in 1 year

    Nisha ChawlaBy Nisha ChawlaJuly 13, 2022No Comments3 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The share of Canara Bank has strengthened by more than 10 percent in the last 1 month, while it has given about 43 percent returns in the last 1 year.

    Rakesh Jhunjhunwala Portfolio: Even though there is a period of decline in the market, but the strong share of the banking sector, Canara Bank continues to grow. The share of Canara Bank has strengthened by more than 10 percent in the last 1 month, while it has given about 43 percent returns in the last 1 year. This stock is included in the portfolio of market veteran Rakesh Jhunjhunwala. The special thing is that mutual funds and the country’s largest insurance company LIC are also trusted on this banking stock. There has also been a breakout in the stock recently, after which the rally has increased.

    Mutual fund increases stake in Canara Bank

    As per the June quarter shareholding pattern, mutual funds have increased their stake in Canara Bank to 3.44 per cent. Mutual funds had a 3.22 per cent stake in this bank in the March quarter. At present, the number of mutual fund holders is 22 and they hold a total of 62,494,051 shares in the bank. The holding of FIIs in the bank is around 8 per cent. DII has also increased the holding from 13.6 per cent to 13.8 per cent. Promoters’ holding is 62.9 percent and public holding is 15.3 percent.

    The trust of Rakesh Jhunjhunwala and LIC is also maintained

    Rakesh Jhunjhunwala and LIC also have confidence in Canara Bank. Rakesh Jhunjhunwala has not sold a single share of the bank in the June quarter. He has a 2 per cent stake in the bank. The bank has 35,597,400 shares in his portfolio. He held the same number of shares in the bank in the March quarter as well. The trust of LIC also remains on the bank. In the June quarter, the insurance company held 8.83 per cent stake in the bank and totaled 160,267,464 shares. There is no change in shareholding as compared to March quarter.

    Breakout in Canara Bank

    According to brokerage house Axis Securities, the shares of Canara Bank have made a breakout of the Daily Sloping Channel on a closing basis from around the level of 200 on the daily chart. This breakout has happened with significant volume which is an indication of increasing participation. The stock has recaptured its 20 and 50 Day SMA and remains above it. Daily and weekly strength indicators RSI is in bullish mode. The stock may soon show a level of Rs 235.

    best banking stocks to buy breakout in canara bank brokerage houses bullish on rakesh jhunjhunwala portfolio stocks Canara Bank canara bank given high return canara bank latest stock price FII god lic holding in canara bank LIC news LIC shareholdings mutual funds news mutual funds trust remain on canara bank Rakesh Jhunjhunwala Rakesh Jhunjhunwala news rakesh jhunjhunwala portfolio banking stocks rakesh jhunjhunwala portfolio stocks rakesh jhunjhunwala top banking bet Rakesh Jhunjhunwala's portfolio
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleThese 10 stocks including RIL, Airtel, Maruti, M&M in the top bet of Mutual Fund, auto sector first choice, reduced weightage in banking
    Next Article Signature Global IPO: Real estate company to bring Rs 1,000 crore IPO, papers filed with SEBI
    Nisha Chawla
    • Website

    Related Posts

    Budget 2023 | Defence sector gets lion’s share

    February 1, 2023

    Apple targets raising India production share to up to 25%: Goyal

    January 23, 2023

    Top 5 Investment Plans in India: Save For Your Future

    January 11, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    What is the minimum balance required in SBI Savings Account?

    December 5, 2021

    McKinsey to help Uttarakhand in achieving GSDP target

    November 26, 2022

    Allied Blenders And Distillers IPO: Officers’ Choice whiskey maker to bring IPO of 2,000 crores, papers filed with SEBI

    June 28, 2022
    Advertisement

    Our main motto is to help our customers in making personal finance decisions easy and convenient as per their comfort. We are committed to provide accurate and unbiased information at your doorstep and keep it transparent among our customers.

    We're social. Connect with us:

    Facebook Twitter YouTube LinkedIn
    Top Insights

    Budget’s main focus is growth; Mumbai should be liking proposals: FM

    February 4, 2023

    Privatisation of 2 public sector banks and 1 general insurance firm not on the table: DIPAM Secretary

    February 3, 2023

    Many EPF account holders still await interest credit for 2021-22

    February 2, 2023
    Must Read

    What is UTR Number in Phonepe and Google Pay? how to check

    March 1, 2022

    What is the minimum balance required in SBI Savings Account?

    December 5, 2021

    What is Aadhaar Paperless Offline E-KYC? How to download XML file?

    April 27, 2022
    © 2023 Invest Policy.
    • About Us
    • Contact Us
    • Advertise
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.