CreditAccess Grameen share price declines 16% in three sessions

CreditAccess Grameen shares declined nearly 5% on Thursday, February 20, extending losses for the third day in a row.

The stock has declined 16.39% in three sessions. It opened unchanged at ₹893.1 apiece in trade on Thursday and dropped 4.9% soon after to hit an intraday low of ₹898.25 apiece.

It was also the top Nifty Smallcap loser around 9.45 am.

Last month, the company cut its guidance again for the full financial year. It expects loan growth of 7% to 8% compared to 8% to 12% guidance it had at the end of the September quarter. At the start of FY25, the company had a guidance of 23% to 24% for loan growth.

The company reported a net loss of ₹99.5 crore in the third quarter against a net profit of ₹353.4 crore in the previous year. Its net interest income increased 6.4% to ₹905.5 crore compared to ₹850.7 crore in the same quarter last year.

Last month, brokerage firm Goldman Sachs wrote in a note that it had a 'sell' rating on the stock and a further downside with a price target of ₹577 apiece.

The stock was trading 3.68% lower at ₹860.2 apiece at 9.50 am on Thursday. It has declined 14% in the past month, 29.94% in the last six months and 42.58% in the past year.

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