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CreditAccess Grameen surges 12% in range-bound market, nears all-time high

For the April-June 2019 quarter (Q1FY20), CreditAccess Grameen posted 33 per cent year on year (YoY) growth in net profit at Rs 96 crore, backed by lower provisioning

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SI Reporter Mumbai
CreditAccess Grameen shares surged 12 per cent to Rs 587 in intra-day trade on the BSE on Friday in an otherwise range-bound market on the back of heavy volumes. The non-banking housing finance company's (NBFC's) stock was trading close to its record high level of Rs 591, touched on June 11, 2019 in intra-day trade.

The microfinance institution (MFI) made stock market debut on August 2018.

In comparison, the benchmark S&P BSE Sensex was down 0.03 per cent at 37,057 levels at 10:56 am. The trading volumes on the counter jumped more than 10-fold with a combined 174,177

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First Published: Aug 30 2019 | 11:25 AM IST

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