Buy CreditAccess Grameen, target Rs 700: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has a buy call on CreditAccess Grameen Ltd. with a target price of Rs 700. The current market price of CreditAccess Grameen Ltd. is Rs 666.0 Time period given by the analyst is Intra Day when CreditAccess Grameen Ltd. price can reach the defined target. Jayesh Bhanushali recommended to keep stoploss at Rs 650. CreditAccess Grameen Ltd., incorporated in 1991, has a market cap of Rs 9635.77 crore.

CreditAccess Grameen Ltd. key Products/Revenue Segments include Interest which contributed Rs 1218.32 Crore to Sales Value (95.08 % of Total Sales), Other Services which contributed Rs 62.60 Crore to Sales Value (4.88 % of Total Sales) and Commission which contributed Rs .41 Crore to Sales Value (0.03 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Standalone sales of Rs 375.80 Crore, up 12.00 % from last quarter Sales of Rs 335.53 Crore and up 32.32 % from last year same quarter Sales of Rs 284.00 Crore Company has reported net profit after tax of Rs 95.83 Crore in latest quarter. The company’s top management includes Mr.Anal Kumar Jain, Mr.B R Diwakar, Mr.George Joseph, Mr.M N Gopinath, Mr.Massimo Vita, Mr.Paolo Brichetti, Mr.Prabha Raveendranathan, Mr.Sumit Kumar, Mr.Udaya Kumar Hebbar, Ms.Sucharita Mukherjee. Company has S R Batliboi & Co. LLP as its auditoRs As on 30-06-2019, the company has a total of 143,637,301 shares outstanding.