CreditAccess Grameen Ltd. stocks declined on Friday after 8.67 million shares, or 5.5% equity, of the company changed hands on the National Stock Exchange.
It was among the most traded Indian stock by value and has been the second worst performer on NIFTY Smallcap 100 and S&P BSE 500.
Shares of the company fell as much as 6.09% intraday before paring loss to trade at a 4.36% low as of 10:54 a.m. This compares to a 0.64% rise in the benchmark Nifty 50. The stock has declined the most since October 17, 2022.
The total traded volume so far in the day stood at 141.9 times its 30-day average. The relative strength index was at 51.81, implying that the stock is neither overbought nor oversold.
Of the 17 analysts tracking the company, 16 maintain a 'buy' and one recommends a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an upside of 7.3%
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