Shares of rating agencies surged after Moody’s said in a statement it raised its stake in ICRA Ltd to 50.06 per cent after an open offer.
Moody’s acquisition has sparked hopes of foreign investor interest in other local rating agencies too, dealers say.
ICRA jumped 13.1 per cent after earlier marking record high at Rs. 2,780, Credit Analysis and Research surged 3.7 per cent, having earlier touched a record high at Rs. 1,102 while Crisil Ltd is up 0.5 per cent.