Credit rating agency Crisil today picked up 8.9 per cent stake in domestic rival CARE Ratings Ltd for a little over Rs 435 crore. "Crisil has purchased 26,22,430 equity shares of CARE representing 8.9 per cent of its equity share capital," Crisil said in a regulatory filing to the stock exchanges. "This investment in the equity of CARE has no special rights and is in compliance with applicable rules and regulations," Crisil said. "This stake purchase is an investment in the excellent long term prospects of the credit rating sector in the country. CARE, a Sebi-registered credit rating agency, is owned by various domestic and institutional investors.

Source: dna June 29, 2017 14:48 UTC