Can Fin Homes Share Price Rises As Morgan Stanley Hikes Target Price Post Q2 Results

Can Fin Homes Ltd. share price rose in the special Muhurat Trade session as Morgan Stanley maintained an Overweight rating and hiked target price following an upbeat second-quarter result. The brokerage has given a target price of Rs 1,000 from Rs 970.

The current target price implied an upside of 19% from Monday's close price.

Can Fin Homes has surprised the street with better-than-expected Net Interest Margin expansion. Its asset quality has also improved, Morgan Stanely said. The brokerage is projecting Can Fin Home's NIM to be of 4%, 3.9%, and 3.8% for the financial years 2026, 2027, and 208, respectively.

• Net Profit rose 19% at Rs 251 crore versus Rs 211 crore

• NII rose 19% at Rs 404 crore versus Rs 339 crore

Can Fin Homes share price rose 2.56% to Rs 895.85 apiece. It erased gains to trade 0.04% down at Rs 838 apiece as of 2:37 p.m., as compared to 0.04% advance in the NSE Nfity 50 index.

The stock declined 2.50% in 12 months, and 10.57% on the year-to-date basis. The relative strength index was at 69.84.

Out of 21 analysts tracking the company, 18 maintain a 'buy' rating, three recommend a hold, according to Bloomberg data. The average 12-month consensus price target implies an upside of 10.1%.