CARE Ratings heads north after good Q1 performance

CARE Ratings rose 1.29% to Rs 1,523.05 at 11:41 IST after net profit rose 16.44% to Rs 35.49 crore on 7.4% rise in net sales to Rs 61.38 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 22 August 2017.

Meanwhile, the S&P BSE Sensex was up 159.39 points or 0.51% at 31,453.82. The S&P BSE Mid-Cap index was up 107.18 points or 0.72% at 15,033.07.

On the BSE, 427 shares were traded in the counter so far as against average daily volume of 57,686 shares in the past one quarter. The stock had hit a high of Rs 1,540.90 and a low of Rs 1,505.50 so far during the day. The stock had hit a 52-week high of Rs 1,800 on 10 July 2017. The stock had hit a 52-week low of Rs 1,139 on 19 September 2016.

The stock had underperformed the market over the past one month till 22 August 2017, falling 9.5% compared with 2.3% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 6.62% as against Sensex's 2.36% rise. The scrip had also outperformed the market in past one year, gaining 28.17% as against Sensex's 11.81% rise.

The mid-cap company has equity capital of Rs 29.45 crore. Face value per share is Rs 10.

CARE Ratings is a credit rating agency in India. CARE provides the entire spectrum of credit rating that helps the corporates to raise capital for their various requirements and assists the investors to form an informed investment decision based on the credit risk and their own risk-return expectations.

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