Housing finance stocks in focus; Can Fin Homes surges 17% post Q3 results

Repco Home Finance, GIC Housing Finance, PNB Housing Finance, and LIC Housing Finance rallied up to 13% in intra-day today in an otherwise weak market.

Shares of housing finance companies were in focus in an otherwise subdued market on Tuesday after Can Fin Homes reported robust earnings for the third quarter (October-December) of fiscal 2019-2020.

Can Fin Homes surged 17 per cent to hit a new 52-week high of Rs 457 on the BSE after reporting a 40 per cent year-on-year (YoY) rise in net profit at Rs 106.61 crore for Q3FY20. Net interest income (NII) was up 23.9 per cent at Rs 169 crore against Rs 136.11 crore in the same quarter last year. Net interest margin (NIM) increased to 3.42 per cent