CreditAccess Grameen Shares Rally on Q3 Results

CreditAccess Grameen is a company that gives loans to people.

On Wednesday, its shares went up by 7% because it made more money than expected in the third quarter of the year.

The company said it expects to grow its loan book by 20% next year and keep its costs low.

Two companies that give advice on stocks, JM Financial and MOFSL, said the stock is a good buy and set new target prices for it.

They think the company is doing well and will keep doing well in the future.

The company also said it will write off some bad loans in the next quarter, but it has already set aside money for most of them.

Additionally, the company reported a 13.4% year-on-year increase in loan disbursements and a significant improvement in asset quality, with lower bad loan provisions.