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Buy Can Fin Homes; target of Rs 670: Sharekhan

Sharekhan is bullish on Can Fin Homes has recommended buy rating on the stock with a target price of Rs 670 in its research report dated July 22, 2022.

July 27, 2022 / 11:06 AM IST
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Sharekhan's research report on Can Fin Homes


Can Fin Homes reported PAT of Rs. 162 crore, up by ~49% y-o-y and 32% q-o-q in Q1FY2023. PAT was expected at Rs. 136 crore. Disbursements declined sequentially, down 36% q-o-q (up ~93% y-o-y on a lower base). AUM grew by ~24% y-o-y and 3% q-o-q. Asset quality remained stable sequentially with GNPA ratio at 0.65%, down 25 bps y-o-y, up 1 bps q-o-q. Management said that audit was conducted for all branches and the impact of irregularities was worth Rs.2.43 crore.


Outlook


At the CMP, it trades at 2.0x/1.7x of FY2023E and FY2024E P/BV. We maintain Buy on Can Fin Homes with a revised PT of Rs. 670.


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At 11:05 hrs Can Fin Homes was quoting at Rs 551.60, up Rs 5.55, or 1.02 percent.

It has touched an intraday high of Rs 552.80 and an intraday low of Rs 545.75.

It was trading with volumes of 6,362 shares, compared to its thirty day average of 24,854 shares, a decrease of -74.40 percent.

In the previous trading session, the share closed down 0.91 percent or Rs 5.00 at Rs 546.05.

The share touched its 52-week high Rs 721.25 and 52-week low Rs 408.00 on 18 October, 2021 and 20 June, 2022, respectively.

Currently, it is trading 23.52 percent below its 52-week high and 35.2 percent above its 52-week low.

Market capitalisation stands at Rs 7,344.78 crore.

For all recommendations report, click here


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Can Fin Homes - 250722 -khan

Broker Research
first published: Jul 26, 2022 02:43 pm
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