Shares of the public sector lender traded almost flat at Rs 152.85 in the early deals on August 27, Friday.
Of late, ace equity investor Rakesh Jhunjhunwala bought a 1.59% stake in Canara Bank.
The bank last month posted a nearly three-fold jump in its net profit at Rs 1,177 crore for the quarter ended June 30
Asian stocks traded mostly higher on Wednesday, as optimism continued to drive US stocks, with the S&P 500 and Nasdaq reaching record highs overnight.
Ace stock picker Rakesh Jhunjhunwala held 1.6% stake, or 7,245,605 shares, in the company as of June 30
The scrip traded 1% down at Rs 1,781 at around 11.05 am (IST), while the benchmark BSE Sensex traded 54 points, or 0.10% down at 54,315
Zomato enjoys the first-mover advantage and has built a strong brand name and recall across India. as per RedSeer.
Rakesh Jhunjhunwala, an investor with a Midas touch, is often referred to as India's own Warren Buffet
"Investing cannot be taught" and one must "not borrow to invest" are among the learnings which Prashant Desai gained through the experience
Unlike ace investor Rakesh Jhunjhunwala, brokerages expect Zomato to touch at Rs 170 in the near future