India's CreditAccess Grameen rises on income tax demand cut

CreditAccess Grameen

02/03/2023 04:36

** Shares of CreditAccess Grameen  CRDE.NS  up as much as
3.3% to 999 rupees
    ** Co says High Court of Karnataka reduced income tax demand
for AY19 to 12.26 bln rupees ($148.5 mln) from 23.33 bln rupees
under fresh assessment order
    ** Stock on track to rise for second straight session, if
gains hold
    ** Over 49,000 shares change hands by 09:55 a.m. IST, 0.3x
the 30-day moving avg
    ** Average rating of 13 analysts close to equivalent of
'strong buy' with median PT of 1,208 rupees, up from 1,187
rupees a month ago - Refinitiv data
    ** As of last close, stock up 7.5% so far this year,
extending 53.1% gain in 2022
    
    ($1 = 82.5575 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))