Shares of Credit Access Grameen (CreditAccess Grameen) rose 15 per cent on the BSE in intra-day trade on Friday, after which it touched its 52-week high of Rs 878. The company’s stock recorded this increase in the expectation of better results in a limited market. The Microfinance Institution stock today crossed its previous high of Rs 832 as of March 14, 2022. Today at 09:50 am, it was trading 6 per cent higher at Rs 853 on BSE. In comparison, the S&P BSE Sensex was trading at 57,548, down 0.08 percent. In the past one week, the stock has outperformed the market with a gain of 15 per cent as against a 1 per cent fall in its benchmark index. In the last three months, it has seen a rise of 40 percent as compared to a gain of 1 percent in the Sensex. On Wednesday, March 23, 2022, the company’s board had approved a proposal to raise up to Rs 1,500 crore in various tranches through a public issue of non-convertible debentures (NCDs) in the domestic market in a limited range on the last day of the week. Market, know which range is watching next week Writers and Nilesh Jain’s earnings ideas While in October-December quarter (Q3FY22), CreditAccess Grameen’s consolidated profit increased by 248 percent to Rs 117 crore on a yearly basis. The company’s consolidated net interest income (NII) grew by 35.5 per cent year-on-year to Rs 412 crore during the same period on account of continuous improvement in operational performance and asset quality, HDFC Securities said. "CreditAccess Grameen is focusing on portfolio growth of over 18.4 per cent per annum in the MFI and retail finance portfolio. It has added about 48 per cent new customers in 9MFY22 from outside the top-3 states. The company is well ahead of its peers in delivering portfolio growth in a risk-calibrated manner with a diminishing stress pool. As a result, this stock remains our top pick among MFI lenders. However, at present, the stock is trading above its target price of Rs 848 per share. ,
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