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      CRISIL gains after shareholders approve buyback

      MoM Team / Mumbai, Jun 22, 2015 11:09 AM IST

        CRISIL gains after shareholders approve buyback

        CRISIL rose 2.7 percent to Rs 1955 at 11:17 IST on BSE after the company said that its shareholders, by a special resolution through postal ballots, have approved a buyback proposal.

        The announcement was made after market hours on Friday, 19 June 2015.

        Meanwhile, the BSE Sensex was up 270.44 points, or 0.99 percent, to 27,586.61.

        On BSE, so far 5,659 shares were traded in the counter, compared with an average volume of 4,555 shares in the past one quarter.

        The stock hit a high of Rs 1,990 and a low of Rs 1,950 so far during the day. The stock hit a record high of Rs 2,365 on 17 April 2015. The stock hit a 52-week low of Rs 1,685.15 on 20 June 2014.

        The stock had underperformed the market over the past one month till 19 June 2015, sliding 9.87 percent compared with 1.19 percent fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.14 percent as against Sensex's 4.05 percent fall.

        The large-cap company has an equity capital of Rs 7.15 crore. Face value per share is Re 1.

        CRISIL proposes to buy back shares at a price not exceeding Rs 2,310 a share by spending a maximum of Rs 102 crore. These will be acquired from the open market through stock exchanges. The amount will be paid in cash. Earlier in April 2015, the company's board had approved the buyback proposal.

        Net profit of CRISIL declined 18.03 percent to Rs 56.32 crore on 0.56 percent decline in net sales to Rs 307.24 crore in Q1 March 2015 over Q1 March 2014.

        CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL's majority shareholder is Standard and Poor's (S&P). Standard & Poor's, a part of McGraw Hill Financial, is the world's foremost provider of credit ratings.

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      Source: Capital Market

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