CreditAccess Grameen shares in focus after securing $100 million syndicated loan from Asian banks
CreditAcces Grameen share price target and performance
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
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).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.The proceeds will be used to fund eligible social projects, the company said.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.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.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
17 minutes ago
- Economic Times
Swiggy shares rebound 28% from 52-week low ahead of Q1 earnings. What analysts say?
Swiggy shares have staged a sharp rebound ahead of the Q1FY26 earnings season, rallying 27.9% from their all-time low of Rs 297 recorded on May 13 on the NSE. The stock has gained investor traction in recent weeks. ADVERTISEMENT This may be fueled by expectations of strong revenue growth in its core food delivery business and improved performance in its quick commerce vertical, Instamart. Domestic brokerage firm Kotak Institutional Equities has downgraded the stock to an 'ADD' rating and raised its sum-of-the-parts-based fair value estimate to Rs 420 from Rs 415 earlier. However, it also noted that the stock is up by 25% from its May bottom and flagged this as a reason for its rating downgrade. 'The recent stock price increase results in a downgrade in rating to ADD,' the brokerage Q1FY26, Kotak expects Swiggy to report a 19% year-on-year growth in food delivery gross merchandise value (GMV), outpacing Zomato's estimated 18% GMV growth for the same period. Swiggy's food delivery GMV is projected at Rs 81 billion, supported by a stable take-rate and steady demand trends. However, it expects a sequential contribution margin (CM) decline of 30 basis points to 7.5%, driven by increased restaurant commissions, higher platform fees, and elevated delivery costs due to the onset of the monsoon. ADVERTISEMENT While food delivery remains stable, Instamart's performance continues to weigh on profitability. Kotak estimates Instamart's GMV to rise 113% year-on-year, with revenue growth of 129% year-on-year. Also read: Jane Street shows dangers of finance as shampoo ADVERTISEMENT Despite this surge, Instamart is expected to report a contribution margin of -3.4% and an adjusted EBITDA loss of Rs 8.5 billion for the quarter, broadly in line with the Rs 8.4 billion loss recorded in brokerage noted, 'We expect Instamart to show meaningful improvement in EBITDA only in FY2027,' adding that FY2026 will likely be a year of 'depressed profitability for Instamart on account of steep store additions and high competitive intensity.' ADVERTISEMENT Another brokerage firm, ICICI Securities, has also highlighted similar trends, projecting food delivery GMV growth of 18.5% year-on-year and 9.8% quarter-on-quarter for Q1FY26, with an adjusted EBITDA of Rs 2.2 billion and EBITDA margin of 2.7% of Instamart, it expects GMV to increase 110.1% year-on-year and 22.6% sequentially, but pegs adjusted EBITDA loss at Rs 9.1 billion with a negative margin of 15.8%.Overall, the brokerage expects adjusted revenue to grow 8% quarter-on-quarter and 46.6% year-on-year, with adjusted EBITDA loss widening to Rs 7.9 billion from Rs 7.3 billion in Q4FY25 and Rs 3.5 billion in Q1FY25. ADVERTISEMENT ICICI Securities also noted that 'Swiggy should marginally gain share in food delivery business,' and observed that e-commerce volume growth is accelerating from the company's lows of FY24/25.'We remain bullish on Swiggy,' added ICICI the technical front, Ajit Mishra, SVP of Research at Religare Broking, noted, 'Swiggy has been witnessing a rebound after spending nearly six months in a corrective phase.'He added that following a breakout in June, the stock faced resistance near the Rs 395 level and is currently trading close to its neckline support. Also read: Vedanta shares down 2% in 1 year but giving 7% dividend. Is it enough to buy the stock? 'It is crucial for the stock to hold the Rs 350–370 zone to maintain a positive bias, while the Rs 410–440 zone is expected to act as resistance. Participants should align their positions accordingly,' Mishra said. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Hans India
18 minutes ago
- Hans India
Farmers to benefit from free horticultural plantations
Vijayawada: NTR district collector Dr G Lakshmisha on Tuesday urged farmers in the district to leverage the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for free fruit orchard cultivation, highlighting the potential for two to three times higher income from horticultural crops. He encouraged farmers to make the most of these government initiatives. A mega grounding mela for horticultural crop cultivation was held on Tuesday at Gosaveedu of Gampalagudem mandal, organised by the Mahatma Gandhi National Rural Employment Guarantee Scheme – District Water Management Agency (DWMA). Collector Lakshmisha launched the programme by planting mango saplings on 1.15 acres of land belonging to Immadi Nagamani. Addressing the gathering, Collector Lakshmisha stated that a Maha Yagnam for poverty eradication is underway in the state. He instructed field-level officials and staff, including MPDOs, MGNREGS APOs, Gram Sachivalayam Horticultural Assistants, Agriculture Assistants, and Field Assistants, to play a crucial role in encouraging farmers towards horticultural crop cultivation. He explained that under MGNREGS, farmers receive free saplings and financial assistance for maintenance. Collector Lakshmisha elaborated on the eligibility for small and marginal farmers (owning less than five acres) to cultivate a variety of horticultural crops, including mango, guava, lemon, sapota, pomegranate, dragon fruit, coconut, oil palm, apple bear, drumstick, jasmine, and rose. He provided examples of the financial assistance available: for mango cultivation, farmers can receive approximately Rs 1,09,950 per acre in various forms; for guava, around Rs 1,46,971 per acre; and for cultivating 1,600 jasmine plants per acre, nearly Rs 1,85,396 in aid. Pomegranate cultivation offers support of Rs 2,16,417 per acre, while dragon fruit receives Rs 2,00,714 for half-an -acre. Tiruvuru RDO K Madhuri, DWMA PD A Ramu, Assistant PD Parthasarathi, DWMA District Plantation Manager K Usha, and other officials participated.
Economic Times
28 minutes ago
- Economic Times
Tata Motors shares in focus after global wholesales drop 9% in Q1, led by JLR and PV segments
Tata Motors shares will be in focus on Wednesday after the company reported a 9% year-on-year decline in global wholesales for the first quarter of FY26, with total volumes falling to 2,99,664 units. The drop was mainly driven by lower sales in both the commercial and passenger vehicle segments, including its subsidiary Jaguar Land Rover (JLR). ADVERTISEMENT Commercial vehicle (CV) wholesales, including Tata Daewoo, stood at 87,569 units in Q1 FY26, down 6% from the same period last year. Passenger vehicle (PV) wholesales, which include electric vehicles, declined 10% to 1,24,809 units. Also Read: 10 Nifty large-cap stocks with up to 38 buy calls; analysts see up to 20% upside JLR, the UK-based luxury arm of Tata Motors, recorded an 11% decline in global wholesales, with volumes at 87,286 units. Of this, Jaguar contributed 2,339 units and Land Rover 84,947 units. The data excludes volumes from the company's China joint venture, Chery Jaguar Land Rover (CJLR). Tata Motors said the decline was anticipated, due to the phasing out of older Jaguar models and a temporary pause in shipments to the US in April after the imposition of new import tariffs. Despite the fall in overall volumes, JLR noted that its more profitable models—Range Rover, Range Rover Sport, and Defender—accounted for a higher share of sales. These three models made up 77.2% of total wholesale volumes in Q1 FY26, up from 66.3% in the previous quarter and 67.8% a year ago. ADVERTISEMENT Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70% ADVERTISEMENT According to Trendlyne, the average target price for Tata Motors stands at Rs 764, implying an upside of nearly 10% from current levels. Of the 28 analysts covering the stock, the consensus rating is 'Hold'.From a technical perspective, the Relative Strength Index (RSI) is at 51.5, indicating neutral momentum. The MACD is at -4.0 and remains below both its signal line and center line, signalling bearish sentiment. ADVERTISEMENT On Tuesday, Tata Motors shares closed at Rs 693.2 on the BSE, up 0.6%, while the Sensex rose 0.32%. The stock has declined 13% over the past six months and 31% over the last 12 months. The company's current market capitalisation is Rs 2,55,217 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
