CARE Ratings surges 10% as board to consider share buyback plan on July 20

In the past six months, CARE Ratings has underperformed the market by falling 27 per cent, as compared to a 12 per cent decline in the S&P BSE Sensex.

Shares of CARE Ratings surged 10 per cent to Rs 457.15 on the BSE in Wednesday’s trade after the company said its board will consider a share buyback plan on July 20, Wednesday.

At 09:38 am, CARE Ratings was trading 9.6 per cent higher at Rs 455 on the back of heavy volumes. In comparison, the S&P BSE Sensex was up 0.35 per cent at 54,075 points. The trading volumes on the counter had jumped over five-fold with a combined around 520,000 shares having changed hands on the NSE and BSE.

The stock had hit a 52-week low