Due to the strong financials, high return ratios and high cash-flow generation, Moody's is planning to acquire 26.5 lakh shares at Rs 2400 per share.
New-York based credit rating agency Moody's currently owns 25.8% stake in ICRA.
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Since, the Indian debt market is underdeveloped compared to the developed economies, this move may help Moody's to tap a higher market share in INDIA
The stock opened at Rs 2,000 touched a high of Rs 2,400 and a low of Rs 1,938 on the BSE so far. Over 11,221 shares were traded on both the stock exchanges so far.
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