MSCI Index Review: Canara Bank Among Top Additions

The MSCI has announced its latest index review, set to take effect at market close on May 31, 2024. These reviews, which reflect changes in the market value of constituent stocks, often lead to significant trading activity. This time, 42 securities will be added and 121 removed from the all-country world index, marking substantial adjustments in the market landscape.

Among the notable additions to the MSCI emerging markets index is India's Canara Bank (NS:CNBK), set to become one of the three largest inclusions. This inclusion is expected to attract a considerable inflow of institutional funds. Canara Bank, boasting a market capitalization of INR 1,03,224 crore, has been a standout performer over the past year, delivering an impressive 91% return. Investors can also look forward to a dividend payout of INR 3.22 per share in June 2024.

Offer: Elevate your investment game with InvestingPro! Click here and get comprehensive financial health scores and insightful ProTips, all for just INR 216/month with a 69% limited-time discount. Invest smarter, not harder!

Image Source: InvestingPro+

Canara Bank's robust performance and upcoming index inclusion make it a stock worth watching. However, prudent investors should always consider the fundamental health of their investments. Here, tools like InvestingPro can provide invaluable insights. According to InvestingPro’s financial health score, Canara Bank has earned a score of 3 out of 5. This score is derived from analyzing over 100 fundamental parameters, offering a comprehensive view of the stock's overall health. A score of 2 or below would suggest caution, making Canara Bank's score a reassuring indicator for potential investors.

InvestingPro goes beyond just scoring; it offers features like ProTips, which provide succinct, actionable insights without the need for deep financial analysis. For Canara Bank, ProTips highlights that the bank has raised its dividend for three consecutive years, offers a significant dividend yield, and is projected by analysts to remain profitable this year. Moreover, the bank has maintained profitability over the last twelve months, further solidifying its investment-grade status.

Image Source: InvestingPro+

However, a potential concern is the stock’s current trading price. Canara Bank's fair value is calculated at INR 110.7, while it is trading at INR 114.5, indicating a slight overvaluation. This suggests that buying on dips could be a more strategic approach for potential investors.

In a volatile market where timely and accurate information is crucial, tools like InvestingPro can be a game-changer for investors. By offering detailed financial health scores and bite-sized ProTips, InvestingPro helps investors make informed decisions with ease.

Currently, InvestingPro is available at a limited-time discount of 69%, bringing its cost down to just INR 216 per month, making it an invaluable resource for both novice and seasoned investors. Click here to make a move and solidify your financial journey.

Read More: Breakout: Stock Breaks Trendline with a 5% Circuit

X (formerly, Twitter) - Aayush Khanna

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

www.onefinancialmarkets.com is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: