CreditAccess Grameen shares in focus after securing $100 million syndicated loan from Asian banks
Shares of
CreditAccess Grameen
will be in focus on Wednesday after the company raised $100 million through external commercial borrowing from a group of banks across South Asia and the Far East.
The syndicated loan facility, structured in dual currencies—Japanese yen and US dollars—was led by Standard Chartered Bank, the company said in a regulatory filing.
CreditAccess Grameen is India's largest non-banking financial company focused on microfinance (NBFC-MFI).
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The facility was initially launched with a base size of $70 million in November 2024 but was later upsized to $100 million, with participation from seven banks, primarily from Korea and Japan.
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The proceeds will be used to fund eligible social projects, the company said.
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CreditAcces Grameen share price target and performance
According to Trendlyne, the average target price for CreditAccess Grameen is Rs 1,191, suggesting a marginal downside of about 1% from current levels. Of the 16 analysts tracking the stock, most have a 'Buy' rating.
On the technical front, the stock's Relative Strength Index (RSI) stands at 59.5—well within the neutral zone (below 30 is oversold, above 70 is overbought). Meanwhile, the MACD is at 20.3 and remains above its centerline and signal line, indicating a bullish trend.
The stock is currently trading above all key moving averages — including its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs) — reinforcing the positive trend.
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Shares of CreditAccess Grameen closed 0.75% lower at Rs 1,196.2 on the BSE in the previous session. The stock is up 34% year-to-date but is down 21% over the past 12 months.
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