CreditAccess Grameen’s shares fell over 2% after Goldman Sachs maintained its ‘Sell’ rating, setting a target price of ₹577. As of 9:33 AM, the shares were trading 2.21% lower at Rs 937.85.
The investment bank highlighted concerns about the microfinance sector, noting that 37% of borrowers with overlapping retail and microfinance loans—around 12.3 million individuals—are delinquent on at least one loan type. This delinquency represents $18 billion in retail loans and $10 billion in microfinance loans.
Adding to the woes, slippages in retail loans overdue by 91-180 days surged by 120 basis points since March 2024, reaching 4.3%. While some lenders have reported stabilized collection efficiency, Goldman Sachs sees no signs of meaningful recovery in the microfinance industry.
CreditAccess Grameen shares opened at ₹920.00, reaching a high of ₹944.10 and a low of ₹910.15 during the trading session. The stock’s 52-week high stands at ₹1,736.00, while the 52-week low is ₹810.00.
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