CreditAccess Grameen surges 12% in range-bound market, nears all-time high

For the April-June 2019 quarter (Q1FY20), CreditAccess Grameen posted 33 per cent year on year (YoY) growth in net profit at Rs 96 crore, backed by lower provisioning

CreditAccess Grameen shares surged 12 per cent to Rs 587 in intra-day trade on the BSE on Friday in an otherwise range-bound market on the back of heavy volumes. The non-banking housing finance company's (NBFC's) stock was trading close to its record high level of Rs 591, touched on June 11, 2019 in intra-day trade.

The microfinance institution (MFI) made stock market debut on August 2018.

In comparison, the benchmark S&P BSE Sensex was down 0.03 per cent at 37,057 levels at 10:56 am. The trading volumes on the counter jumped more than 10-fold with a combined 174,177