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

Reuters Posted online: Friday, Jun 20, 2014 at 0000 hrs
Mumbai : 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.