Street sign: Shares of rating agencies, Arvind Fashions listing price

Following the default of Infrastructure Leasing & Financial Services, the role of rating agencies has come under the scrutiny of regulators

Investors buy rating agency stocks
 

Shares of rating agencies, which had come under pressure on concerns of a slowdown in business and tighter regulations, seem to be getting back in favour among domestic investors. On Thursday, Reliance Mutual Fund bought Rs 66 crore worth of shares of Icra. The scrip has seen a correction of 20 per cent in the last six months. Earlier, liquidity squeeze in debt markets had stoked fears that fresh bond issuances would significantly drop, slowing down the revenue growth of the rating agencies. Moreover, following the default of Infrastructure Leasing & Financial Services