India's Can Fin Homes jumps on analysts' bullish outlook

Can Fin Homes

23/01/2023 07:26

** Shares of Can Fin Homes Ltd  CNFH.NS  rise as much as
6.08% to 522.45 rupees; posts biggest intraday pct gain in four
weeks 
    ** Shares of the housing finance firm jump following upbeat
growth outlook from analysts, citing healthy loan growth, asset
quality improvement, potential growth in net interest margins
    ** Motilal Oswal Financial says asset quality remains
"pristine and largely stable", reiterates "buy" rating on the
stock
    ** The domestic brokerage sees scope for re-rating of
valuations
    ** Nirmal Bang, which has "buy" rating, lists improving
asset quality, adequate provisions towards bad loans as positive
factors for CNFH's profitability 
    ** Better net interest income, provision aided net profit,
says Prabhudas Lilladher; brokerage expects asset quality risks
to recede further
    ** Credit growth outlook remains positive, says Arihant
Capital, which picks CNFH as one of its best bets among
non-banking financial companies
    ** The company reported a rise in net profit in the third
quarter, post market hours on Thursday  urn:newsml:reuters.com:*:nFWN3441V9
    ** Trading volume is 1.98 mln shares as of 12:34 p.m. IST,
2.5x the 30-day avg of 786,011 shares
    ** Nine of the 12 analysts rate the stock "buy", one
suggests "sell", two recommend "hold"; median TP is 647.50
rupees - Refinitiv data
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))