 "Canara Bank sells over Rs 11.54-cr shares in CARE rating")
State-run Canara Bank has sold shares worth Rs 11.54 crore in Credit Analysis and Research Limited (CARE), a domestic rating agency.
The stake sale of 0.258%, or 74,955 shares, in the rating agency fetched the Bengaluru-based lender Rs 11.54 crore, Canara Bank said in a filing to the BSE.
Following the stake sale in the rating agency, the bank's shareholding came down to 10.3% from the earlier 10.5%.
CARE Ratings commenced operations in April 1993.
In over nearly two decades, it has established itself as a premier credit rating agency in India.
The stake sale of 0.258%, or 74,955 shares, in the rating agency fetched the Bengaluru-based lender Rs 11.54 crore, Canara Bank said in a filing to the BSE.
Following the stake sale in the rating agency, the bank's shareholding came down to 10.3% from the earlier 10.5%.
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Post announcement, Canara Bank's shares went down by 0.05% to Rs 397.85 apiece on the BSE, whereas CARE's scrip fell by 0.95% to Rs 1,519 per unit.
CARE Ratings commenced operations in April 1993.
In over nearly two decades, it has established itself as a premier credit rating agency in India.
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