CreditAccess Grameen fell 6.30% to Rs 682.40 on profit selling after recent steep gains.
Shares of CreditAccess Grameen surged 41.67% in the past five sessions.So far in 2021, the stock has fallen 14.18% while the benchmark Sensex has added 25.52% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 68.07. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 563.90, 547.21 and 573.24, respectively.
CreditAccess Grameen reported 7.9% fall in standalone net profit to Rs 71.99 crore despite 8.3% rise in total income to Rs 510.33 crore in Q2 FY22 over Q2 FY21.
CreditAccess Grameen is a microfinance institution focused on providing micro-loans to women customers predominantly in rural areas across India. The company, on consolidated basis, is now operating in 303 districts in the 14 states in India through 1,566 branches.
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