Buy Can Fin Homes, target price Rs 670: IIFL

IIFL has buy call on Can Fin Homes with a target price of Rs 670. The current market price of Can Fin Homes Ltd. is Rs 636.55.

Can Fin Homes Ltd., incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 8473.93 Crore) operating in NBFC sector.

Can Fin Homes Ltd. key Products/Revenue Segments include Interest and Fees & Commission Income for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 611.58 Crore, up 8.96 % from last quarter Total Income of Rs 561.30 Crore and up 35.65 % from last year same quarter Total Income of Rs 450.84 Crore. Company reported net profit after tax of Rs 162.21 Crore in latest quarter.


Investment Rationale
The stock has given a Flag pattern breakout

Promoter/FII Holdings
Promoters held 29.99 per cent stake in the company as of 30-Jun-2022, while FIIs owned 0.0 per cent, DIIs 24.79 per cent.