Why did the stock price of Can Fin homes go up so sharply on 26 August?
Answer
Answer
Can Fin Homes stock was up 8.6% on 26 August on the back of good Jun-20 quarter numbers announced. Net profits of Can Fin Homes grew 15% to Rs.93.15 crore on better and more efficient cost management and a spurt in top line too.
Can Fin reported total income up 8% at Rs.523 crore for the Jun-20 quarter. As on Jun-20, the company has already provided Rs.72.89 crore, reducing the risk with its substantial asset cover. Can Fin offers housing loan to individuals builders/developers and LAP.