Canara Bank Ltd fell after dealers said the bank's January-March quarterly net profit was boosted by a tax refund they estimated at Rs. 100 crore ($16.62 million).
The falls reverse a 6.6 per cent rally on Monday when investors had reacted positively to the state-lender's results, especially as its net non-performing loans fell to 1.98 per cent during the January-March quarter from 2.39 per cent in the previous quarter.Analysts say Canara's loans decreased mainly as a result of the sale of some bad assets.
The falls reverse a 6.6 per cent rally on Monday when investors had reacted positively to the state-lender's results, especially as its net non-performing loans fell to 1.98 per cent during the January-March quarter from 2.39 per cent in the previous quarter.Analysts say Canara's loans decreased mainly as a result of the sale of some bad assets.