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BUZZ-India's Canara Bank falls on Q4 profit miss
May 9, 2017 / 4:13 AM / 6 months ago

BUZZ-India's Canara Bank falls on Q4 profit miss

** Shares of Canara Bank fall as much as 4.1 pct in early trade to 378.80 rupees

** Bank posted a Q4 profit of 2.14 bln rupees ($33.18 mln) vs a year-ago loss, but fell short of analysts’ estimates of 4.33 bln rupees profit

** “Earnings miss was driven by higher-than-expected provisions,” Morgan Stanley analysts write

** Stock posts biggest intraday pct fall since Feb. 15

** Up to Monday’s close, stock had gained about 54 pct this year ($1 = 64.4950 Indian rupees)

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