Can Fin Homes rose 3.60% to Rs 356.60 at 10:56 IST on the BSE after the board of Canara Bank permitted stake sale in Can Fin Homes.
Canara Bank made the announcement after market hours yesterday, 18 June 2019.
Meanwhile, the S&P BSE Sensex was up by 323.70 points, or 0.83% to 39,370.04.
On the BSE, 80,000 shares were traded in the counter so far compared with average daily volumes of 42,000 shares in the past two weeks. The stock had hit a high of Rs 362 and a low of Rs 347.55 so far during the day. It hit a 52-week high of Rs 377.70 on 30 July 2018 and a 52-week low of Rs 217 on 23 October 2018.
Canara Bank announced that the board of directors of the bank has permitted to initiate the process of stake sale in part/full in Can Fin Homes (CFHL), as per the disinvestment policy of the bank. The disinvestment will take place at appropriate time depending on the market conditions and available options.
As on 31 March 2019, Canara Bank held 29.98% stake in Can Fin Homes.
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Net profit of Can Fin Homes fell 9.36% to Rs 67.01 crore on 17.94% rise in total income to Rs 463.80 crore in Q4 March 2019 over Q4 March 2018.
Can Fin Homes operates in the housing finance sector.
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