Rating agency shares in demand; CRISIL, ICRA, CARE hit record high

ICRA rallied 12% to Rs 4,993, CRISIL surged 7.5% to Rs 2,340 and CARE gained 3% to Rs 1,786 on the BSE.

Shares of rating agencies – ICRA, CRISIL and Credit Analysis and Research (CARE) – rallied by up to 12% after foreign institutional investors (FIIs) hiked their stake during the fourth quarter (January-March 2015).

ICRA has rallied 12% to Rs 4,993, CRISIL surged 7.5% to Rs 2,340 and CARE gained 3% to Rs 1,786 on the Bombay Stock Exchange (BSE). All these shares hit their respective record highs on the bourses.

According disclosure made by the CARE and CRISIL to the stock exchange, shows that FIIs have increased their stake in both these companies during January-March 2015 quarter. ICRA has yet to declare its shareholding pattern.

In CARE, the overseas investors raised their stake to 31.19% in March quarter against 28.95% at the end of December 2014 quarter. FIIs holding in CRISIL increased to 7.44% from 6.93% during the recently concluded quarter.