Shares of the microfinance lender surged 11.94% in three trading sessions from its previous closing low of Rs 1,178.05 on 16 June 2023.

The stock hit all time high of Rs 1,337.05 today. The counter has surged 58% from its 52-week low of Rs 834.10 hit on 31 January 2023.

On the BSE, 10,893 shares were traded in the counter so far compared with average daily volumes of 11,274 shares in the past two weeks.

The stock had outperformed the market over the past one month, increasing 8.09% compared with 2.91% rise in the Sensex.

The scrip outperformed the market in past one quarter, advancing 38.78% as against Sensex's 9.39% increase.

The counter had also outperformed the market in past one year, surging 44.66% as against 20.93% jump in Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 68.797. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

In daily chart, the stock is trading above its 50, 100 and 200 days simple moving average (SMA) placed at 1,116.54, 1,024.19 and 988.93 respectively. These levels will act as crucial support zones in near term.

Bengaluru-based CreditAccess Grameen is a microfinance institution, focused on providing micro-loans to women customers predominantly in rural areas across India. The Company is now operating in 352 districts in 14 states (Karnataka, Maharashtra, Tamil Nadu, Chhattisgarh, Madhya Pradesh, Odisha, Kerala, Goa, Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, and West Bengal) and one union territory (Puducherry) in India through 1,786 branches.

The company's profit after tax surged 86.4% to Rs 296.6 crore on 32.7% increase in net interest income (NII) to Rs 689.8 crore in Q4 FY23 over Q4 FY22.