Crisil hits new high
Crisil hit a new 52-week high today at Rs.1188 and since then, it has come down and currently remains just about in the green at Rs.1183.75.
The stock hit a high on the back of its very good performance for its second quarter ended 30th June 2013. This Standard & Poor’s company posted a 38% (YoY) rise in consolidated net profit at Rs.60.52 crore on a 23% rise in income at Rs.266 crore.
The growth in ratings revenue was driven by an increase in bond issuances during the quarter. SME Ratings business also did well and this was backed by greater acceptance by the banking system and an increasing footprint across the country. Its Global Analytical Centre (GAC) continued to see good demand from analytical teams of Standard & Poor’s. As per the company, Crisil Research rolled out 23 debt indices of varying maturities across the gilt, credit and money markets for the domestic market during the reporting period.