Can Fin Homes gains on promoter stake sale plan

In past three months, the stock rallied 60% as compared to 7.5% rise in the S&P BSE Sensex.

Can Fin Homes rallied 6%  to Rs 2,026 on the BSE in an otherwise weak market after the housing finance company said that its promoter Canara Bank  will divest up to 13.45% stake in the company by the end of next month.

"The promoter bank viz. Canara Bank has informed the company that they have intimated RBI about their proposal to dilute their stake to 30% by March 31, 2017," Can Fin Homes said in a BSE filing.

In December last year, the sub-committee of the board of the Canara Bank, permitted the Bank to float a Request