ICRA has hit a new 52-week high today at Rs.2400, with volumes surging over 6 times. The stock currently remains up over 15% at Rs.2300 levels.

The stock is in the limelight after Moody’s today hiked up its offer price to acquire an additional 26.5% stake in the company. The price has been hiked from the earlier Rs.2000/share to Rs.2400/share, a very good 20% hike.

Moody’s currently holds 25.8% stake in ICRA and it wants to increase its stake to over 52% as it feels the company is very strong, with good financials, high return ratios and excellent cash-flow generation.