India's Can Fin Homes extends post-results rally to record high

Can Fin Homes

24/07/2023 05:52

** Shares of Can Fin Homes Ltd  CNFH.NS  jumps 6% to record
high of 887.85 rupees
    ** The retail finance firm's stock has gained nearly 11%
since its June-qtr results on July 19
    ** Elara Capital says CNFH's positives are priced-in and its
new forays are on vigil
    ** "While historically CANF has demonstrated pristine asset
quality backed by salaried home loan focus, higher ticket,
builder segment forays and most positives being priced-in prompt
 us to recommend Accumulate" (PT 907 rupees)
    ** Avg rating of 12 analysts covering CNFH is equivalent of
"buy" (on 5-rank scale of "strong buy" to "strong sell") and
median PT is 899 rupees - Refinitiv data
    ** CNFH has surged nearly 65% YTD, while the NIfty bank
index  .NSEBANK  has risen just 7%

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))