Hold Can Fin Homes: Sandeep Raina

Sandeep Raina, of Edelweiss RCM Research recommends holding Can Fin Homes as the stock may test Rs 450.

Sandeep Raina, of Edelweiss RCM Research told CNBC-TV18, " Can Fin Homes is a company promoted by Canara Bank , it's a south Indian based bank, and a south Indian based company also. In the last 10 years the company has grown at 19 odd percent and the focus is largely on people who are into salaried class. They have close to Rs 5500 crore of book and out of that 92 percent goes only for salaried class, so that is their focus area."

He further added, "In the last three years they have grown at 30 percent odd and we believe going forward they should be able to garner 25 percent plus growth in next five years."

"They will be able to maintain their net interest margin (NIM) at 2.9 percent, so going forward we believe the company should do well, should grow at 25 odd percent for next couple of years. Their valuation is very cheap, they are close to 1.1 time FY16 numbers and we believe with the company doing return on capital (ROC) close to 20 odd percent, that should be trading at very high valuation."

"So, we believe that our target for next one year is close to Rs 450 odd and we believe going forward also we should be holding this stock."

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