The recovery in the construction sector is likely to get delayed further with the sharp fall in prices of commodities, which will in turn defer the private sector investments in segments such as oil & gas, steel, and mining, said ICRA in its report
Shares of rating agencies – ICRA, CRISIL and Credit Analysis and Research (CARE) – rallied by up to 12% after foreign institutional investors (FIIs) hiked their stake during the fourth quarter (January-March 2015).
Shares of ICRA were up nearly 3% at Rs 3,412 after hitting a record high of Rs 3,512 after the credit rating agency's net profit for the quarter ended December 2014 was up 21% at Rs 18 crore helped by strong growth in other income.
Shares of credit-rating agency, ICRA, surged 20% after parent company, Moody’s Investor Services revised the open offer upwards on Wednesday. Moody’s raised the open offer price by 20% to Rs 2,400 per share.
ICRA, Indian credit ratings agency, is one of the key gainers on BSE, surged 16% to Rs 2320 after global rating agency Moody's raised its offer price to acquire additional stake in the company to Rs 2,400 from Rs 2,000.Due to the strong financials,
ICRA is locked in upper circuit of 20% at Rs 1,913 on the BSE after the promoter’s made a conditional open offer to buy at least 2.15 million shares at Rs 2,000 per share to increase their stake in the company to 55% from 28.5%.
Ratings agency Moody’s on Friday said it would make an open offer to raise its stake in domestic rating agency ICRA from 28.5 per cent to 55 per cent. At an offer price of Rs 2,000 an ICRA share, the offer is valued at Rs 530 crore.
Shares of rating agencies, ICRA and Crisil are trading higher by over 4% each on back of heavy volumes ahead of the initial public offer (IPO) of Credit Analysis and Research Ltd (CARE), which opens on Friday.
ICRA shed more than 5% to Rs 1,070 after reporting 66% year-on-year (y-o-y) drop in consolidated net profit at Rs 3.59 crore for the first quarter ended June 2011, as compared to Rs 10.62 crore in the corresponding quarter of previous fiscal.