StocksMarket.in

Hold Can Fin Homes; target of Rs 291: Centrum

November 05
17:25 2018

Centrum’s research report on Can Fin Homes

Can Fin Homes Ltd (CFHL) reported muted growth in Q2FY19 with net interest income (NII), pre-provisioning profit (PPP) and net profit increasing in single digits each. The loan growth remained close to 17% YoY (up ~5% QoQ) to Rs16,935 crore as on 30 Sept’18, the slowest pace in several years. However, on the bright side, the asset quality improved marginally with gross and net NPAs down 3bps QoQ to 0.63% and 2bps to 0.42%, respectively.

Outlook

We maintain Hold rating on the stock with a target price of Rs291, valuing the stock at 2.0x its FY20E ABV.

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.

Related Articles

Archives