Can Fin Homes shares gain after Canara Bank board clears divestment in company

Can Fin Homes shares gained a percent to close at Rs 347.55 on June 19 after Canara Bank decided to sell its stake in the company at appropriate time.

The stock gained 3 percent in the last three sessions and 22 percent in the last six months.

Canara Bank said its board of directors, on June 18, permitted to initiate the process of stake sale in part/full in Can Fin Homes (CFHL), the housing finance company.

The said permission is subject to disinvest at an appropriate time depending on the market conditions and the options available, it added.

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The public sector lender and its subsidiaries held a 29.99 percent stake in Can Fin Homes as per the shareholding pattern of March 2019 that was  available on the exchanges.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.

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