Care Ratings

Credit rating stocks CRISIL, CARE rally 6% in Wednesday's trade; here's why

Analysts remain positive on Domestic Ratings business - CRISIL, CARE - and expect bond issuances to increase over coming quarters aided by monetary easing and softening corporate spreads.

Maharashtra's new EV policy may take 'toll' on toll operators' cash flows

Toll waivers on major highways may impact cash flows of operators like IRB, but low EV penetration and expected compensation make long-term effect minimal

CARE Ratings stock soars 15%, nears 52-week high post Q4 results

In the past one month, CARE Ratings stock has zoomed nearly 30 per cent, as against 5.7 per cent rise in the BSE Sensex.

Care Ratings Q4 results: Profit rises 77% to ₹43.37 cr on higher income

Care Ratings on Monday reported a 77 per cent jump in its net profit to Rs 43.37 crore for the fourth quarter ended March 31. The domestic ratings firm had a net profit of Rs 24.55 crore in the March quarter of 2023-24. Its total income rose to Rs 124.82 crore in the January-March period from Rs 100.43 crore in the March quarter of FY24, the agency said in a regulatory filing. For the full fiscal 2024-25, its net profit surged 36.5 per cent to Rs 140 crore against Rs 102.56 crore in 2023-24. Shares of Care Ratings closed at Rs 1,342.85 apiece, up 4.28 per cent over the previous close on BSE.

Spandana Sphoorty CEO Saxena resigns; CFO Damani named interim chief

The stock of the company closed six per cent lower at Rs 305.2 per share on BSE

Stocks to buy today, Apr 23: Care Ratings, NFL among analyst's top choices

Vinay Rajani of HDFC Securities has suggested buying Care Ratings and NFL. Here's why

Spandana Sphoorty soars 19% on heavy volumes; zooms 50% in 7 days

Kotak Institutional Equities said microfinance players are now starting to see a scenario where incremental data on forward flows, collections and SMA book is showing an improvement

MTNL shares spurt 6% after Care Ratings upgrades long-term debt rating

Shares of Mahanagar Telephone Nigam Limited (MTNL) rallied up to 6.34 per cent at 58.49 per share on the BSE in Wednesday's intraday deals

CARE Ratings pares down India's FY25 GDP growth forecast to 6.5%

Sachin Gupta, chief rating officer at CARE Ratings, said that the first half of FY25 paints a picture of cautious optimism within India's corporate sector

Gopalpur Ports' credit rating upgraded 6 notches post-acquisition by APSEZ

The upgrade by CareEdge Ratings follows subsequent prepayment of 64 per cent of external debt supported by funds infusion from APSEZ

CareEdge group to scale up share for its non-rating business to 20%

The plan is to establish regional hubs to enhance local connections in the countries rated by CARE

CARE Ratings surges 13%, hits over 6-year high on healthy Q2 results

Thus far in the month of October 2024, CARE Ratings has outperformed the market by surging 32%, compared to the 5% decline in the BSE Sensex during the period

CARE Ratings downgrades IIFL Finance's long-term instruments to "AA-"

The rating agency, in a statement placed on its website, said the assets under management (AUM) of IFL's gold business shrunk to Rs 14,727 crore as of June 30, 2024

CARE Ratings settles CRA rules violation case with Sebi; pays Rs 13 lakh

CARE Ratings Ltd on Friday settled a case pertaining to alleged violation of Credit Rating Agencies (CRA) rules with markets regulator Sebi after paying Rs 13.05 lakh. The order came after CARE Ratings filed an application with Sebi proposing to settle the proceedings initiated against it, "without admitting or denying the findings of facts" through a settlement order. "In view of the acceptance of the settlement terms and the receipt of the settlement amount...the instant adjudication proceedings initiated against CARE Ratings Limited is disposed of in terms of...the Settlement Regulations," Sebi said. The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against CARE Ratings Ltd for alleged violation of a clause related to 'Monitoring and Review of Ratings by Credit Rating Agencies (CRAs) specified under CRA Regulations.

Care Ratings Q4 results: Net profit surges 35% to Rs 34.8 crore

Care Ratings on Friday reported a 35 per cent jump in its standalone net profit at Rs 34.8 crore in the fourth quarter ended March 31, 2024. The domestic rating agency had a profit after tax of Rs 25.9 crore in the January-March quarter of the 2022-23 fiscal. Total income rose 13 per cent to Rs 88.5 crore during the March quarter, Care Ratings said in a late night regulatory filing on Thursday. For the 2023-24 fiscal, the standalone net profit rose 15 per cent Y-o-Y to Rs 119.4 crore. Total income also grew 15 per cent to Rs 330 crore in the 2023-24 fiscal. The board of Care Ratings has declared a final dividend of Rs 11/share, which will take the total declared for the year to Rs 18/share. Shares of Care Ratings were trading at Rs 1,104.20 on Friday in early trade on BSE, up 0.29 per cent over the previous close.

Sebi gives approval to CARE Ratings' subsidiary to provide ESG ratings

Capital markets regulator Sebi has given approval to CARE Ratings Ltd's subsidiary CARE ESG Ratings to provide environmental, social, and governance (ESG) ratings. Such ratings will enable the issuers to discern steps for the betterment of their sustainability performance. Having received the registration under the Sebi (Credit Rating Agencies) Regulations on May 2, 2024, CARE ESG Ratings Ltd will commence its ESG rating activity, according to a statement issued by CareEdge Group on Friday. "With the use of ESG ratings, a sustainable growth journey of businesses can get an independent viewpoint. A business can now assess its relative position and take action to strengthen its sustainability policies & practices. Investors and stakeholders have adopted new perspectives on ESG-based reporting, and performance, both domestically and internationally," Mehul Pandya, MD and Group CEO of CareEdge, said. Last month, Sebi gave clearance to ICRA's subsidiary Pragati Development Consulting .

Care Ratings upgrades Axiscades long-term bank facilities at 'CARE A-'

Engineering solutions provider Axiscades Technologies Ltd (ACTL) on Thursday said Care Ratings has upgraded its ratings on the company's long-term bank facilities, on account of factors, including improvement in capital structure and stable operational performance. "Care Ratings has upgraded its long-term bank facilities at CARE A- with a stable outlook and short-term facilities at CARE A2+ from CARE BBB+ - stable and CARE A2, respectively," Axiscades Technologies said in a statement. The ratings agency has taken into account factors like improvement in the capital structure of the company following a fundraise of Rs 203 crore in January, stable operational performance in the April-December period of FY24 among others while upgrading the ratings, the statement said. Of Rs 203 crore, the company earmarked Rs 158 crore for debt repayment while the balance Rs 45 crore is for utilisation towards general corporate purposes. ACTL CEO and MD Arun Krishnamurthi said, "This upgrade reaffirm

Stocks to Watch today: Zee, Sun Pharma, Lupin, NTPC, PCBL, Care Ratings

Stocks to watch on Monday, December 18, 2023: Shares of Zee Entertainment are likely to be in focus as company seeks an extension to complete the proposed merger with Sony India.

Rising cost of funds may squeeze bank NIMs by 30 bps more: CARE Ratings

Banks are still grappling with policy rate hikes on deposits, along with regulatory actions on unsecured lending

Sebi issues warning to Care Ratings and orders corrective measures

The market regulator has advised the rating agency to take corrective steps, rectify discrepancies and submit the action taken report (ATR) to Sebi within 30 days