CreditAccess Grameen cracks 12% on heavy volume amid asset quality concerns

Quick Summary:

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 management said when compared with NBFC industry provisioning policy, the company is holding additional Rs 102 crore on account of our early recognition and higher provisioning rates.

Management raised its credit cost guidance to 4.5 per cent-5.0 per cent (vs.2.2-2.4 per cent earlier) for FY25 in anticipation of provisions for slippages into higher buckets.

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Category: BusinessFinance

Markets: India

Topics: Q2 Reserve Bank of India Assets quality Goldman Sachs RBI Microfinance company MFI NPA CreditAccess Grameen shares Markets NBFC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-29 @ 10:29:21 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 674 words

Reading Time: 4 minutes read

Sentences: 28 lines

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Copyright Owner: © Business Standard

News ID: 23937583

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