India's Can Fin Homes hits 2-mth low as CEO exit spurs growth worries

Can Fin Homes

20/09/2022 09:01

** Shares of housing finance co Can Fin Homes  CNFH.NS  fall
as much as 7.6% to their lowest since July 26 at 545 rupees
    ** Co says CEO and MD Girish Kousgi resigned due to personal
reasons  urn:newsml:reuters.com:*:nFWN30O04R
    ** "We fear this will be construed as a negative given the
procedural lapses that came to light over the past six months" -
Investec analysts said in a note
    ** "Though we do not expect surprises around asset quality,
we expect uncertainty on loan growth. Under Kousgi's leadership,
loan growth improved to 20%+ in FY22 from 13% YoY when he joined
in FY20" - Investec
    ** About 12.3 mln shares change hands, ~ 17x 30-day avg
    ** Stock up 6.7% so far this year as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))