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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 December 29, 2022.

December 30, 2022 / 01:46 PM IST
 
 
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Sharekhan's research report on Can Fin Homes

We believe Can Fin Homes could outperform in the near term as and when the announcement of its new MD/CEO happens. The company has shared that identification of the new MD/CEO is in an advanced stage. The new MD/CEO is likely from the housing finance sector and the announcement would be made before FY2023 ends. Business momentum continues to remain healthy amid a strong demand environment; however, compression in NIM is expected in H2FY2023. Thus, we expect the company to report margin of 3.4-3.5% in H2FY2023 vs. ~3.6% in H1FY2023.

Outlook

We expect Can Fin Homes to deliver ROA/RoE of 1.9%/17% over FY2022-FY2025E. At the CMP, the stock trades at 1.9x/1.6x/1.4x its FY2023E/FY2024E/FY2025E ABV, respectively. We reiterate Buy with an unchanged PT of Rs. 670.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Can Fin Homes - 30 -12-2022 - khan

Broker Research
first published: Dec 30, 2022 01:46 pm

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