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BUZZ-India's Canara Bank shares fall; HSBC cuts to "underperform"
February 5, 2015 / 4:37 AM / 3 years ago

BUZZ-India's Canara Bank shares fall; HSBC cuts to "underperform"

** India’s Canara Bank shares fall 1.5 pct

** HSBC downgrades stock to “underweight” from “neutral”, cuts price target to 391 rupees from 436 rupees

** The bank’s December-quarter earnings lagged estimates, says HSBC

** Core performance continues to falter on margins and asset quality front, HSBC says

** Macquarie expects March-quarter earnings to remain weak as there will be little support from treasury, while restructuring and slippages could accelerate (Reuters Messaging: indulal.p.thomsonreuters.com@reuters.net)

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