July 20, 2017 / 6:34 AM / a month ago

BUZZ-India's Canara Bank falls; June-qtr provisions up 48 pct

** State-run lender Canara Bank Ltd falls as much as 6 pct to 348.95 rupees, in its biggest intraday pct drop since Dec 26, 2016

** Lender posted lower-than-expected Q1 profit on Wednesday due to higher provisioning for bad loans

** Provisioning rose about 48 pct on year to 22.04 bln rupees in first quarter

** Brokerage firm Motilal Oswal Securities cuts target price to 360 rupees due to prolonged provisioning pressure; maintains "Neutral" rating

** Around 5 mln shares change hands, more than double the 30-day moving average ($1 = 64.2500 Indian rupees)

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