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Why ICRA share zoomed 20% in trade today

ICRA stock touched 52-week high of Rs 3,349, rising 20% or Rs 558 against previous close of Rs 2,790 on BSE

twitter-logoBusinessToday.In | March 19, 2021 | Updated 15:35 IST
Why ICRA share zoomed 20% in trade today
ICRA share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

ICRA share zoomed 20% to a fresh 52-week high today after Parag Parikh Flexi Cap Fund bought over two percent stake in the rating agency company through block deals. The small cap stock has gained after 2 days of consecutive fall.

ICRA stock touched 52-week high of Rs 3,349, rising 20% or Rs 558 against previous close of Rs 2,790 on BSE.

ICRA share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm rose to Rs 3,232 crore. The share has gained 49.24% in one year and risen  14.47% since the beginning of this year. In a month, the stock has climbed 21.12%.

On Thursday, PPFAS Mutual Fund, promoted by Parag Parikh purchased 2 lakh shares or a 2.09 percent stake in ICRA for Rs 56.06 crore.

The stock was bought at Rs 2,780.04 per share via open market.

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In Q3 of current fiscal, the company posted a 8.6 percent rise in its consolidated net profit to Rs 24.45 crore against net profit of Rs 22.52 crore during the corresponding quarter in the previous fiscal.

Consolidated total income fell to Rs 88.74 crore in Q3 against Rs 91.03 crore in the same period previous fiscal.

ICRA is one of the leading credit rating agencies in India, which offers, through its subsidiaries, rating services in Nepal and Sri Lanka. It also provides outsourcing, risk management solutions, content, consulting, and other analytical services through its subsidiaries.

Meanwhile, Sensex and Nifty extended rally in the last hours on Friday. Sensex surged 702 points or 1.43 per cent to 49,919, and the Nifty was at 14,772, up by 214 points or by 1.47 per cent.

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