Can Fin Homes corrects on profit booking

Can Fin Homes fell 3.34% to Rs 658.75 on profit selling after gains in the past three sessions.

Shares of Can Fin Homes rose 13.79% in the past three sessions from its recent closing low of Rs 598.90 on 20 September 2021.

The stock hit a record high of Rs 691 on 23 September 2021. The stock has soared 68.26% from its 52-week low of Rs 391.50 on 24 September 2020.

In the past one month, the stock has surged 31.32% as against 7.45% rise in the Sensex. It has jumped 63.64% in the past one year compared with 64.49% surge in the Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 51.73. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day simple moving average (SMA) placed at 634.80 and 200-day SMA at 587.28.

Can Fin Homes' net profit jumped 16.84% to Rs 108.85 crore on 13.71% rise in total income from operations to Rs 450.84 crore in Q1 June 2021 over Q1 June 2020.

Can Fin Homes is a housing finance company. The company has 187 branches, 21 affordable housing loan centres (AHLCs) & 13 satellite offices spread across various locations of the country in 21 States & Union Territories.

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