India's CreditAccess Grameen up on positive commentary, improved asset quality

CreditAccess Grameen

23/07/2025 06:32

** India's CreditAccess Grameen CRDE.NS rises 5% to 1,348 rupees; set for biggest daily pct gains since May 2

** Expectations of recovery in micro finance segment, which has been under stress, buoys investors

** Management says collections improved in July, expects momentum to sustain through August and September

** JM Financial upgrades CRDE to "buy" from "hold", raises PT to 1,475 rupees from 1,135

** Says CRDE should be the first among MFIs to recover from current stress cycle given ability to recognize early stress, accelerated write-off policy

** Co's profit up 27.5% Q/Q, down 84.9% y/y; asset quality improves

** More than 1.8 million shares traded on the day, ~3x of 30-day average volume

** YTD, CRDE up 52%

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))