Microfinance players buck subdued market; Spandana Sphoorty, CreditAccess, Fusion Micro skyrocket upto 18%

Spandana Sphoorty

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26 Aug, 2025 12:21

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Shares of microfinance institutions (MFI) bucked the subdued market trend, with industry majors like Spandana Sphoorty Financial, CreditAccess Grameen and Fusion Microfinance skyrocketing upto 18 percent in trade on January 8.

Shares of Spandana Sphoorty surged 18 percent to a 10-week high of Rs 478. Alongside that, shares of CreditAccess Grameen also soared 15 percent while those of Fusion Microfinance rose 8 percent.

This comes on the back of reports from CNBC-TV18 suggest that the Department of Financial Services is holding a series of consultative meetings between January 7-16 with fintech as well as the MFI sectors  to understand issues faced by the industry as well as seek their feedback.

Meanwhile, expectations of increased focus on the microfinance sector in the upcoming union budget are also brewing in the background, lifting sentiment for the sector.

On that account, shares of Spandana Sphoorty were locked in the 20 percent upper circuit in the previous session as well, led by strong trading volumes that were even higher than that seen thus far today. That also marked the biggest single day rise for the stock in 10 weeks. Adding that to the gains in today's session, the stock has zoomed nearly 40 percent in just two days.

The sharp upswing in the stock began after renowned chartist, Sushil Kedia of Kedianomics said that the stock, which was then priced just over Rs 300, has the potential to deliver 6x returns in the future to go up to levels of  Rs 1,800.

Kedia said that in an exclusive interaction with CNBC Awaaz. He said that while he does not recommend participants to dive into the stock immediately, but when the signal does arise. "Who knows, maybe next week," he said about when the "buy" signal could emerge on the charts.

“We are waiting and watching the stock. We are letting it consolidate now. Who knows, it can fall 15 percent to 20 percent. We will confirm once we get the final signal. The stock became a four bagger in the past also, but later pulled back,” he told CNBC Awaaz.