Canara Bank exits Care Ratings; Crisil buys stake

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In a block deal during the early hour of trade on Thursday, 26.2 lakh shares of Care Ratings have traded at Rs 1,660 per share. Canara Bank has exited Care Ratings by selling its entire 9% stake. The bank received Rs 432 crore from the stake sale, reported a leading news agency.

Crisil bought the Care Ratings shares in the block deal, acquiring 8.9% stake at Rs 1,659.79 per share.

Meanwhile, Care Ratings was trading higher by 10.9% at Rs 1,584.90 per share at 1010 hours on BSE. The stock witnessed a spurt in the volume by more than 89.77 times. It hit a high of Rs 1,660 per share and a low of Rs 1,429 so far in the morning session.

CARE Ratings Limited offers credit assessment of companies that helps corporates to raise capital and assists the investors to take informed investment decision based on the credit risk. CARE Ratings serves corporates, financial sectors, state government entities, and local bodies worldwide.

Stock View :-

Credit Analysis & Research Ltd is currently trading at Rs 1560, up by Rs 131.55 or 9.21% from its previous closing of Rs 1428.45 on the BSE.

The scrip opened at Rs 1429 and has touched a high and low of Rs 1660 and Rs 1429 respectively. So far 3160473(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4206.96 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1694.95 on 03-Apr-2017 and a 52 week low of Rs 962.5 on 26-Jul-2016. Last one week high and low of the scrip stood at Rs 1500.95 and Rs 1411.25 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 75.99 % and 24.01 % respectively.

The stock is currently trading above its 50 DMA.

Credit Analysis & Research Ltd :-
BSE 1,565.00 136.55    (9.56%)
NSE 1,561.55 139.35    (9.80%)


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