India's Can Fin Homes rises as brokerage says co in 'pink of health'

Can Fin Homes

26/12/2022 08:31

** Shares of India-based Can Fin Homes  CNFH.NS  rise as
much as 5.69% to 517.45 rupees, highest pct gain since Aug. 24
    ** Housing financier is "in the pink of health" and growth
trajectory to remain intact, analysts at Motilal Oswal wrote in
a note published after markets closed on Friday 
    ** Brokerage reiterated "buy" rating on stock and maintained
a target price of 630 rupees, an implied upside of ~29% from
Friday's close of 489 rupees
    ** Co has managed its liabilities very well, exercised
stringent cost controls, said Motilal Oswal, adding it expected
no new negative developments in asset quality 
    ** More than 860,000 shares traded as of 1:56 p.m. IST, 1.1x
their 30-day avg of 765,756 shares
    ** 9 out of 11 analysts rate the stock "buy" or higher, 2
"hold" indicating bullish expectations; median PT 680 rupees
    ** Shares trade lower than their 50-day and 100-day moving
averages for second consecutive session 
    ** YTD, stock down ~11.46%, as of last close
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))