ICRA Limited revises ratings of Can Fin Homes Ltd

ICRA Limited has reviewed the ratings of Can Fin Homes Ltd and vide their Press Release dated 20/11/2020 has reaffirmed the ratings as under:

Bank facilities - Long term - Rs. 12,400 Cr. - [ICRA]AA+ reaffirmed, 'removed from Watch with Developing Implications' and assigned Stable outlook

Non-convertible debenture (NCD) programme - Rs. 4,620 Cr. - [ICRA]AA+ reaffirmed, 'removed from Watch with Developing Implications' and assigned Stable outlook

Bank facilities - Short term - Rs. 2,600 Cr. - [ICRA]A1+ reaffirmed

Subordinated debt programme - Rs. 300 Cr. - [ICRA]AA+ reaffirmed, 'removed from Watch with Developing Implications' and assigned Stable outlook

Commercial paper - Rs. 4,500 Cr. - [ICRA]A1+; reaffirmed

Fixed deposits - MAAA; reaffirmed, 'removed from Watch with Developing Implications' and assigned Stable outlook

The ratings of the Company have been removed from 'Watch with Developing Implications' as the ratings of the Company's principal shareholder, Canara Bank {(rated ICRA]AA+(hyb) (Stable)/[ICRA]AA(hyb) (Stable))}, which holds a stake of around 30% in the Company as on 30/09/2020, have been removed from 'Watch with Developing Implications'.

Shares of CAN FIN HOMES LTD. was last trading in BSE at Rs.463.7 as compared to the previous close of Rs. 459.15. The total number of shares traded during the day was 14044 in over 307 trades.

The stock hit an intraday high of Rs. 467.4 and intraday low of 459.45. The net turnover during the day was Rs. 6515673.

Source : Equity Bulls

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