Rating agencies hit new highs

Rating agencies are up at new highs today. ICRA hit a new high at Rs.4992.85. CARE also hit a new high at Rs.1808 and CRISIL too hit a new high at Rs.2346.

This sudden perk up of interest in rating agencies is after both CRISIL and CARE announced that FIIs have hiked stake in the companies. CRISIL stated that FIIs stake from 6.93% to 7.44% and promoters stake stands at 67.03%. CARE stated that FII stake has gone up from 28.95% to 31.19%. ICRA is yet to announce a FII stake hike; because the other two have announced, the market is certain that ICRA too would see FII hiking their stake.