Buy CreditAccess Grameen, target price Rs 1555: Axis Securities

Axis Securities has buy call on CreditAccess Grameen with a target price of Rs 1555. The current market price of CreditAccess Grameen Ltd. is Rs 1179.5.

CreditAccess Grameen Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 18798.64 Crore) operating in NBFC sector.

CreditAccess Grameen Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Financial Services, Bad Debts Recovery and Income From Sale Of Share & Securities for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 1512.58 Crore, up 3.67 % from last quarter Total Income of Rs 1459.10 Crore and up 29.20 % from last year same quarter Total Income of Rs 1170.72 Crore. Company reported net profit after tax of Rs 397.66 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 66.56 per cent stake in the company as of 30-Jun-2024, while FIIs owned 10.87 per cent, DIIs 16.25 per cent.