Interesting to note from Motilal’s report above that Illango’s term has been extended till October 2016, and given that CanFin Homes now has 2400 crore market cap, which is more than 15% of Canara Bank market cap, it is likely that his term will get extended further.
Core banking software has been implemented across branches, significantly expanding branch network and low cost satellite offices across India, reducing interest rates should take care of growth going forward..
CanFin continues to be the fastest growing HFC and is getting well recognized by the market participants though FII/ DII holding still continues to be <1%. With consistent growth and entry of institutional investors, stock could continue to make new highs..
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