ICRA gains on share buyback plan
The stock surged nearly 9% to Rs 4,448 on the BSE in early morning trade
 "ICRA gains on share buyback plan")
premium
Shares of credit rating firm ICRA surged nearly 9% to Rs 4,448 on the BSE in early morning trade after the company announced that the board will meet on Thursday, February 9, to consider a proposal for buy-back of the equity shares of the company.
As of December 31, 2016, the promoters held 50.06% stake in ICRA. Insurance companies led by Life Insurance Corporation of India held 11.92% holding, followed by mutual funds (10.67%), Foreign Portfolio Investors (8.60%) and Individual shareholders (7%), the shareholding pattern data shows.
Moody's-controlled ICRA provides investment information and credit rating services in India.
In 2017, the stock has underperformed the market by gaining 2% as compared to 6.8% rise in the S&P BSE Sensex till Monday.
At 09:29 am; the stock was up 5% at Rs 4,278 against 0.14% rise in the benchmark index. A combined 2,233 shares changed hands on the counter on the BSE and NSE so far.
As of December 31, 2016, the promoters held 50.06% stake in ICRA. Insurance companies led by Life Insurance Corporation of India held 11.92% holding, followed by mutual funds (10.67%), Foreign Portfolio Investors (8.60%) and Individual shareholders (7%), the shareholding pattern data shows.
Moody's-controlled ICRA provides investment information and credit rating services in India.
In 2017, the stock has underperformed the market by gaining 2% as compared to 6.8% rise in the S&P BSE Sensex till Monday.
At 09:29 am; the stock was up 5% at Rs 4,278 against 0.14% rise in the benchmark index. A combined 2,233 shares changed hands on the counter on the BSE and NSE so far.