Stocks of rating agencies jump; Moody's ups stake in ICRA

Written by Reuters | Mumbai | Updated: Jun 20 2014, 18:46pm hrs
MoodysMoody's has raised its stake in ICRA Ltd to 50.06 per cent after an open offer.
Shares of rating agencies surge after Moody's said in a statement it raised its stake in ICRA Ltd to 50.06 percent after an open offer.

Moody's acquisition has sparked hopes of foreign investor interest in other local rating agencies too, dealers say.

ICRA jumps 13.1 percent after earlier marking record high at 2,780 rupees, Credit Analysis and Research surges 3.7 percent, having earlier touched a record high at 1,102 rupees while Crisil Ltd is up 0.5 percent.