CRISIL, Icra, CARE: Major hurdles yet to be conquered by rating agencies

Despite the 15 per cent rally on Wednesday, CARE Ratings still trades 38 per cent lower from its 52-week high; Similarly, CRISIL and ICRA too are down 14 per cent from their respective 52-week highs.

Shares of rating agencies saw considerable action in trades on Wednesday. CARE Ratings zoomed 15 per cent, with volumes equivalent to Covid-19 reversal point seen in March 2020.

India's one of the top credit rating agency, however, was still down 38 per cent from its 52-week high, recorded in October 2021.

ICRA also surged 4.6 per cent in trades yesterday, while the subsidiary of S&P Global Crisil ended on a flat note. Both these stocks quote 14 per cent lower when compared with their respective 52-week highs.

Here’s the outlook of rating agencies for the upcoming sessions:-

CARE Ratings Ltd