CreditAccess Grameen share price declines for the third day in a row; check the lowest price target

CreditAccess Grameen Ltd. shares declined nearly 5% on Thursday, February 20, extending losses for the third day in a row.The stock has declined 16.4% in three sessions. Having opened unchanged at ₹893.1 on Thursday, the stock dropped as much as 4.9% soon after to hit an intraday low of ₹898.25 apiece.

It was also the top Nifty Smallcap loser in the earlier minutes of trade.

Last month, the company cut its guidance again for the full financial year. It now expects loan growth of 7% to 8% compared to 8% to 12% guidance it had at the end of the September quarter. At the start of FY25, the company had a guidance of 23% to 24% for loan growth.CreditAccess Grameen reported a net loss of ₹99.5 crore in the third quarter against a net profit of ₹353.4 crore in the previous year. Its net interest income increased 6.4% to ₹905.5 crore compared to ₹850.7 crore in the same quarter last year.

Last month, brokerage firm Goldman Sachs wrote in a note that it had a “sell” rating on the stock and expected further downside with a price target of ₹577. This is also the lowest price target for the stock on the street.

The stock was trading 3.68% lower at ₹860.2 apiece at 9.50 am on Thursday. It has declined 14% in the past month, 29.94% in the last six months and 42.58% in the past year.

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