CreditAccess hits new high on NSE

Yesterday late evening, CreditAccess Gramin stated that it has completed a Direct Assignment of Rs.139 crore on 26th June’19.

This is the first Direct Assignment transaction initiated during the FY2019-20.

With this transaction, the company has completed one Securitization and one Direct Assignment transaction totaling to Rs.249 crore in FY20.

The entire Direct Assignment pool qualifies for Priority Sector treatment as per the guidelines prescribed by the RBI.

Reacting to this news, the stock price on the BSE rose 8% at Rs.562. Interestingly, on the NSE it hit a new record high at Rs.599, jumping up 15%. Its 52-week high on the BSE is at Rs.591. Currently, it is quoted around same levels of 526 on both BSE and NSE.