Home Buisness Market Insight Buy CreditAccess Grameen, target price Rs. 1555: Axis Securities

Buy CreditAccess Grameen, target price Rs. 1555: Axis Securities

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Buy CreditAccess Grameen, target price Rs. 1555: Axis Securities

Axis Securities on CreditAccess Grameen for Rs. A buy call has been made with a target price of 1555. The current market price of CreditAccess Grameen Limited is Rs. is 1179.5.

CreditAccess Grameen Ltd., incorporated in the year 1991, is a mid cap company (having a market cap of Rs. 18798.64 Crore) operating in the NBFC sector.

Major products/revenue segments of CreditAccess Grameen Ltd. for the year ending 31-Mar-2024 include interest, fee and commission income, income from financial services, bad debt recovery and income from sale of shares and securities.

Financial
For the quarter ended 30-06-2024, the company reported Rs. 1512.58 crores reported a consolidated total revenue, up from last quarter’s Rs. 1459.10 crore is 3.67 % higher than the total revenue and 29.20 % higher than Rs.12.10 crore total revenue of Rs.170 crore in the same quarter last year. The company reported a net profit after tax of Rs 397.66 crore in the latest quarter.

Promoter/FII Holdings
As on 30-Jun-2024, promoters held 66.56 per cent stake in the company, while FIIs held 10.87 per cent, DIIs held 16.25 per cent.

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