The BSE Smallcap index plunged 13 per cent, as against the 10 per cent decline in the BSE Midcap index, and the 3.3 per cent fall in the BSE Sensex, so far in the month of January 2025
The Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) reported a loss of Rs 99.5 crore in December 2024 quarter, led by higher provision at Rs 752 crore
The impairment provision for financial instruments rose to Rs 751.9 crore in Q3FY25, up from Rs 126.2 crore in Q3FY24
CreditAccess Grameen shares: Spandana Sphoorty share price gained 3.6 per cent intraday today; Equitas Small Finance Bank 2.2 per cent; IndusInd Bank 1.9 per cent; and Ujjivan SFB 1 per cent
Sensex hit 79,020 in intra-day trade today, falling 3.79 per cent or 3,113.12 points in four trading days from the level of 82,133 touched on Friday, December 13
Thus far in the calendar year 2024, the market price of CreditAccess Grameen has plunged 46 per cent, as compared to 10 per cent rally in the BSE Sensex.
The fall in CreditAccess Grameen share price came after the company's disbursements dropped 19% annually to Rs 4,004 cr in Q2FY25, from Rs 4,966 crore in Q2FY24.
The microfinance industry is currently facing a significant rise in delinquencies, primarily driven by increasing borrower indebtedness, apart from other factors.
Regarding the implications of a rate cut for NBFCs, analysts noted that asset composition is more crucial than liability composition.