India's Can Fin Homes hits record high on June-qtr profit climb

Can Fin Homes

20/07/2023 10:25

** Shares of India's Can Fin Homes  CNFH.NS  up as much as
3.07% to record high of 843.40 rupees
    ** Co's June-qtr net profit rose 12.7%, topping estimates of
brokerages Jefferies and Morgan Stanley 
    ** Rating houses say profit driven by lower operating costs,
higher net interest margin 
    ** Qtrly total income from ops stood at 8.24 billion rupees
vs 6.12 billion rupees year-ago
    ** Stock above 50-day, 100-day and 200-day exponential
moving averages since April 24
    ** About 1.6 mln shares changed hands by 2:31 p.m. IST, 2.1x
30-day avg 
    ** Avg of 14 analysts close to equivalent of 'buy;' median
PT is 735 rupees - Refinitiv data
    ** YTD stock had risen 57%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))