Canara Bank Declines After Former Chairman Named In Fraud Case — Shares of the state-run lender extended decline for the second day and fell as much as 5.4 percent, the most in nearly two weeks to Rs 250.
The CBI today charged former Chairman and Managing Director RK Dubey and two of the then executive directors of the Canara Bank of cheating and forgery in the alleged loan default of over Rs 68 crore sanctioned in 2013, officials told PTI.
Trading volume was three times its 20-day average. The stock is 30 percent below the Bloomberg consensus one-year target price.
