Rakesh Jhunjhunwala picks 1.59% in Canara Bank

August 25, 2021

This is for all the investors who love following the share picks of the veterans.

As per the shareholding pattern filed on August 24 by Canara Bank, the Big Bull picked up a 1.59% stake in the bank that is currently valued at Rs 402 crore. The current market price for ready reference is Rs 154.

The bank has also just concluded a Rs 2,500 crore QIP with investors including LIC, ICICI Prudential Life, Morgan Stanley, Volrado Venture Partners, BNP Paribas and Societe Generale amongst others.

I as such don’t get mesmerised with these kind of news but yes, they surely make me look at something closely – provided it fits in my broader outlook.

For broader outlook, you may want to refer my earlier note on Public Sector banks –

Indian Public Sector Banks – have they bottomed out?

 

 

 

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