Prominent investor Rekha Jhunjhunwala has significantly reduced her position in Canara Bank during the first quarter of the fiscal year. Regulatory filings reveal that her stake in the public sector lender dropped from 1.54% to 1.42% as she offloaded approximately 1.07 crore shares.
This strategic move coincides with a challenging period for the banking stock, which has registered an 18% decline throughout 2026. Market analysts are closely monitoring the sell-off, attempting to discern whether this represents a routine portfolio rebalancing or a loss of confidence in the short-term performance of the bank.
Despite the reduction, Jhunjhunwala remains a notable shareholder, maintaining a substantial presence in the financial institution. The development follows a broader trend of volatility affecting many public sector undertakings within the domestic market.
