{"id":104710,"date":"2023-06-30T14:43:03","date_gmt":"2023-06-30T09:13:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=104710"},"modified":"2023-06-30T15:44:30","modified_gmt":"2023-06-30T10:14:30","slug":"block-deal-nbfc-stock-tanks-6-after-shares-worth-1100-crores-were-sold","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/block-deal-nbfc-stock-tanks-6-after-shares-worth-1100-crores-were-sold\/","title":{"rendered":"Block Deal: NBFC Stock tanks 6% after shares worth\u00a0\u20b9 1,100 crores were sold"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2436493145\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of CreditAccess Grameen Ltd, an NBFC registered with the Reserve Bank of India (RBI), shed 6 percent after block deals took place on the counter. The company\u2019s share price reached an intraday low of \u20b9 1,244.95 apiece on the National Stock Exchange (NSE).&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-683933412\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Reports suggest that the company\u2019s share price tumbled as its promoter CreditAccess India BV was looking to sell a stake in the microfinance lender. Shares worth around \u20b9 1,100 crores were being sold in a price range of \u20b9 1,230-\u20b9 1,255 apiece. However, this represents a discount of nearly 7.2 percent as compared to the scrip\u2019s closing price of \u20b9 1325.70 apiece. The promoter held a 73.68 percent stake in the company and its stake will reduce to \u20b9 67.88 percent after the deal.&nbsp;<\/p><p>The Bengaluru-headquartered company provides microfinance services to women who are enrolled as members and organized as Joint Liability Groups. It also uses its distribution channel to provide certain other financial products and services to its members. CreditAccess Grameen operates in 352 districts in 14 states.&nbsp;<\/p><p>With a market capitalization of \u20b9 21,609 crores, CreditAccess Grameen is a mid-cap company. It has an ideal return on equity of 17.81 percent. The company\u2019s shares were trading at a price-to-earnings ratio (P\/E) of 25.55, which is higher than the industry P\/E of 19.97, suggesting that the stock might be overvalued as compared to its peers. It could also mean that investors are willing to pay a higher price for the company\u2019s future earnings.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4254298880\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company&#8217;s share price gained nearly 12 percent in the past ten sessions before it shed some gains on Friday\u2019s sessions. It recently signed a $200-million external commercial borrowing (ECB) agreement, hailed as a milestone. This was the first social ECB loan in the microfinance industry in the country and the fourth to originate from India.&nbsp;<\/p><p>CreditAccess Grameen is one of the largest microfinance companies in India in terms of its loan book, with assets under management (AUM) amounting to \u20b916,540 crore as of September. The company recently unveiled its plan to have 500 billion worth of assets, reflecting a 20-25 percent CAGR (Compounded Annual Growth Rate) over the next four-five years, from \u20b9 200 billion in March.&nbsp;<\/p><p><strong>Written By Simran Bafna&nbsp;<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3397774116\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of CreditAccess Grameen Ltd, an NBFC registered with the Reserve Bank of India (RBI), shed 6 percent after block deals took place on the counter. The company\u2019s share price reached an intraday low of \u20b9 1,244.95 apiece on the National Stock Exchange (NSE).&nbsp; Reports suggest that the company\u2019s share price tumbled as its promoter [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":19375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-104710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Block Deal: NBFC Stock tanks 6% after shares worth\u00a0\u20b9 1,100 crores were sold - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of the company, an NBFC registered with the Reserve Bank of India (RBI), shed 6 percent after block deals took place on the counter. 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