Can Fin Homes stock: Buy, Sell or Hold? Zee Business panellist suggests strategy

Can Fin Homes stock: Can Fin Homes' net profit increased 14.62 percent to Rs 141.71 crore in the quarter that ended in September 2022 from Rs 123.64 crore in the quarter that ended in September 2021.

Sales rose 40.56% to Rs 657.48 crore in the quarter ended September 2022 as against Rs 467.77 crore during the previous quarter ended September 2021.

Zee Business panellist Shamit said that the company valuation and asset quality is good. "It is one of the best companies in housing finance, but avoid till till the corporate issue persists," he added. Another panelist Kiran noted that the "chart is weak" adding "wait for base building formation, stock could test 450"

Following Can Fin Homes' second quarter business update, brokerages firms have revised their stock price target.

Jefferies on Can Fin Homes (CMP: 502) 

Maintain Buy, Target 730 

At 10:30 am, Can Fin Homes Ltd rose to Rs 507.95 apiece on NSE up by 1.14 per cent. Bengaluru-headquartered company has pan India presence with 193 branches; 198 outlets in over 100 cities spread across 21 States & Union Territories. The firm offers housing loan to individuals, builders and developers. It also sanctions loan against property.

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