ICRA, Care shares rally post SEBI penalty

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December 28, 2019 1:18 AM

Though the quantum of penalty is seen as less, it nevertheless signals that action can be taken for such lapses. 

SEBI Image.

A day after Sebi imposed a penalty of Rs 25 lakh each on rating agencies Icra and Care for lapses over ratings given to NCDs of IL&FS, their shares rallied; the day also saw the markets rallying. Though the quantum of penalty is seen as less, it nevertheless signals that action can be taken for such lapses.

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