{"id":64243,"date":"2022-09-20T13:45:00","date_gmt":"2022-09-20T08:15:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=64243"},"modified":"2022-09-20T13:42:33","modified_gmt":"2022-09-20T08:12:33","slug":"stock-falls-after-managing-director-resigns-jefferies-sees-a-28-upside","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-falls-after-managing-director-resigns-jefferies-sees-a-28-upside\/","title":{"rendered":"Stock falls after Managing Director resigns; Jefferies sees a 28% upside\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-62928607\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Bears pounded the shares of Can Fin Homes\u2019 after the company\u2019s MD and CEO Girish Kousgi, on September 19, 2022, informed the board about his decision to resign, citing personal reasons. The shares tanked over 5% to \u20b9 545.00 apiece on Tuesday\u2019s early trades.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-836648642\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Kousgi will continue to function as the Managing Director &amp; CEO and discharge duties till the date of his relief as per a regulatory release filed by the company.&nbsp;<\/p><p>The veteran banker was appointed CEO in September 2019. He has nearly two decades of experience in financial services. Earlier, he was the head of retail credit at Tata Capital and before that with IDFC Bank and ICICI Bank.&nbsp;<\/p><p>Analysts at Jefferies said that Kousgi\u2019s resignation is a setback as Can Fin Homes delivered a healthy balance of growth &amp; good asset quality despite Covid during his tenure.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1924910640\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The brokerage said that uncertainty around upcoming management change would be an overhang near term, but core fundamentals stay healthy. Further, it is awaiting clarity around the new CEO and their growth strategy. It said that an external CEO from the industry may be viewed more favourably by investors.&nbsp;<\/p><p>Jefferies has a \u2018Buy\u2019 rating on the shares of Can Fin Homes with a target price of \u20b9 730.00 apiece. This translates to an upside of 27.18% as compared to its current share price of \u20b9 574.00.&nbsp;<\/p><p>The brokerage added that strong demand for mid-ticket housing loans in the salaried segment, and competitive funding costs could drive an 18% loan CAGR over FY22-25e. Further, it said that spreads may decline over FY22-25e due to a higher CP mix and a steeper rise in CP rates.&nbsp;<\/p><p>It believes that the asset quality should stay stable. This should support stable credit costs and expects the company to deliver strong EPS CAGR and 15+% ROE over FY22-25E. Moreover, the overhang related to audit should ease as limited irregularities were detected, Jefferies said.&nbsp;<\/p><p>Can Fin Homes has a AAA rating on its long-term bank facilities from Care Ratings. The company had reported that it was a victim of a ransomware attack on its website due to which it was not available for customers. However, there was no impact on its core IT solutions.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\" id=\"h-written-by-simran-bafna\"><p><strong>Written by Simran Bafna<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-605117855\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2430157214\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Bears pounded the shares of Can Fin Homes\u2019 after the company\u2019s MD and CEO Girish Kousgi, on September 19, 2022, informed the board about his decision to resign, citing personal reasons. The shares tanked over 5% to \u20b9 545.00 apiece on Tuesday\u2019s early trades.&nbsp; Kousgi will continue to function as the Managing Director &amp; CEO [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[],"class_list":["post-64243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock falls after Managing Director resigns; Jefferies sees a 28% upside\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/stock-falls-after-managing-director-resigns-jefferies-sees-a-28-upside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stock falls after Managing Director resigns; Jefferies sees a 28% upside\u00a0\" \/>\n<meta property=\"og:description\" content=\"Bears pounded the shares of Can Fin Homes\u2019 after the company\u2019s MD and CEO Girish Kousgi, on September 19, 2022, informed the board about his decision to resign, citing personal reasons. 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