ICRA Ltd and Indian Bank have signed a memorandum of understanding under which the former will rate the bank's loans and other exposures under the standardised approach of RBI's New Capital Adequacy Framework for Basel-II and also to small scale industries and small and medium enterprises.
ICRA's ratings for the standardized approach would be carried out under its "Line of Credit" rating service and would enable the bank to assess the new risk weights applicable to its borrowers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBI's above guideline.
The SSI ratings will be carried out under the National Small Industries Corporation-ICRA Performance and Credit Rating Scheme for SSIs. The SME ratings, on the other hand, will be assigned under the ICRA-SME Rating Scale.
Showing posts with label ICRA. Show all posts
Showing posts with label ICRA. Show all posts
Wednesday, July 18, 2007
Monday, June 4, 2007
ICRA open to acquisitions of knowledge outsourcing firms
Rating agency ICRA is looking at opportunities in knowledge process outsourcing (KPO). This is a part of ICRA's plan to grow both organically and inorganically in the segment. The company may look for possible acquisitions in the domestic and international markets.
As part of its organic growth plan, ICRA's KPO arm, ICRA Techno Analytics (ICTEAS), has got its subsidiary incorporated in the US as ICRA Techno Analytics Inc.
The subsidiary has been set up following the New Jersey Business Corporation Act, US. The new company has been incorporated for the purpose of information technology services and products, engineering services, business and knowledge process outsourcing, management consulting services, research and information services and publication.
Read more in The Business Standard article.
As part of its organic growth plan, ICRA's KPO arm, ICRA Techno Analytics (ICTEAS), has got its subsidiary incorporated in the US as ICRA Techno Analytics Inc.
The subsidiary has been set up following the New Jersey Business Corporation Act, US. The new company has been incorporated for the purpose of information technology services and products, engineering services, business and knowledge process outsourcing, management consulting services, research and information services and publication.
Read more in The Business Standard article.
Thursday, May 31, 2007
MIC gains 123% on debut
Three new companies were listed on the bourses on Wednesday. MIC Electronics closed at Rs 335.65, a rise of 123.5 per cent compared with the issue price to record the fifth largest rise on the debut day.
The shares of the Hyderabad-based company listed at Rs 210.25, a premium of 40.16 per cent to the issue price of Rs 150 a share. The shares hit a high of Rs 367.80 during the day.
The company, which is a provider of video displays and telecommunication software, raised Rs 76.5 crore by selling 5.1 million shares through the initial public offering. Over 10 million shares changed hands on the BSE.
Insecticides India, the second listing, however, fared badly on debut, ending the day at Rs 110.70, a discount of 4.3 per cent to the issue price of Rs 115 a share.
The company’s shares had listed at Rs 105, a discount of 8.6 per cent to the issue price. The company raised Rs 37 crore by selling 3.21 million shares through the IPO. A total of 46,45,681 shares were traded on the BSE.
McDowell Holdings (MHL) was the third listing on Wednesday.
The shares listed at Rs 195.60, which is 20 per cent higher than the base price of Rs 163 set by the exchanges to calculate the daily circuit filter.
The listing of Mcdowell Holdings follows a restructuring scheme undertaken at United Spirits (USL), where the investment business of USL was transferred to MHL as a going concern. MHL had alloted equity shares to the shareholders in the ratio of one equity share for every 5 shares held in USL.
The gains made by MIC Electronics on the listing day placed the stock among the top five gainers on the listing day. The top four gainers on the listing day were Tantia Construction (340 per cent), Nissan Copper (230.26 per cent), Cambridge Tech (163.03 per cent) and ICRA (143 per cent). Global Broadcast News, whose shares listed at a premium of 104 per cent, now stands in the sixth position.
The shares of the Hyderabad-based company listed at Rs 210.25, a premium of 40.16 per cent to the issue price of Rs 150 a share. The shares hit a high of Rs 367.80 during the day.
The company, which is a provider of video displays and telecommunication software, raised Rs 76.5 crore by selling 5.1 million shares through the initial public offering. Over 10 million shares changed hands on the BSE.
Insecticides India, the second listing, however, fared badly on debut, ending the day at Rs 110.70, a discount of 4.3 per cent to the issue price of Rs 115 a share.
The company’s shares had listed at Rs 105, a discount of 8.6 per cent to the issue price. The company raised Rs 37 crore by selling 3.21 million shares through the IPO. A total of 46,45,681 shares were traded on the BSE.
McDowell Holdings (MHL) was the third listing on Wednesday.
The shares listed at Rs 195.60, which is 20 per cent higher than the base price of Rs 163 set by the exchanges to calculate the daily circuit filter.
The listing of Mcdowell Holdings follows a restructuring scheme undertaken at United Spirits (USL), where the investment business of USL was transferred to MHL as a going concern. MHL had alloted equity shares to the shareholders in the ratio of one equity share for every 5 shares held in USL.
The gains made by MIC Electronics on the listing day placed the stock among the top five gainers on the listing day. The top four gainers on the listing day were Tantia Construction (340 per cent), Nissan Copper (230.26 per cent), Cambridge Tech (163.03 per cent) and ICRA (143 per cent). Global Broadcast News, whose shares listed at a premium of 104 per cent, now stands in the sixth position.
Thursday, May 17, 2007
M-cap inches close to $1 trn
The market capitalisation of India is inching towards $1 trillion after the total value of all listed stocks touched an all-time high of Rs 39,78,172 crore or about $970.28 billion (at Rs 41 a dollar) on Wednesday. The economy touched the $1 trillion mark just recently.
The journey towards the $1-trillion mark is nothing less than spectacular, considering that the market cap was just about $150 billion in 2004. To put in context, the total bank deposits in 2004 was $500 billion and has crawled to about $650-700 billion in the same period.
A total of 33 new scrips, including Idea Cellular (Rs 30,372 crore), Power Finance Corp (Rs 15,602 crore), Indian Bank (Rs 5,406.51 crore), Firstsource Solutions (Rs 3,913.32 crore), MindTree Consulting (Rs 2,973.38 crore), Fortis Healthcare (Rs 2217.97 crore), Global Broadcast News (Rs 1,855.46 crore), Redington India (Rs 1,378.69 crore) and ICRA (Rs 926.05 crore) added as much as Rs 70,710 crore to the market cap. One of the prominent gainers in the m-cap journey is Reliance Capital, whose m-cap crossed the $ 5 billion-mark on Wednesday.
Read more in The Business Standard article.
The journey towards the $1-trillion mark is nothing less than spectacular, considering that the market cap was just about $150 billion in 2004. To put in context, the total bank deposits in 2004 was $500 billion and has crawled to about $650-700 billion in the same period.
A total of 33 new scrips, including Idea Cellular (Rs 30,372 crore), Power Finance Corp (Rs 15,602 crore), Indian Bank (Rs 5,406.51 crore), Firstsource Solutions (Rs 3,913.32 crore), MindTree Consulting (Rs 2,973.38 crore), Fortis Healthcare (Rs 2217.97 crore), Global Broadcast News (Rs 1,855.46 crore), Redington India (Rs 1,378.69 crore) and ICRA (Rs 926.05 crore) added as much as Rs 70,710 crore to the market cap. One of the prominent gainers in the m-cap journey is Reliance Capital, whose m-cap crossed the $ 5 billion-mark on Wednesday.
Read more in The Business Standard article.
Saturday, April 14, 2007
ICRA zooms 141% on Day 1
Shares of ICRA, a credit rating agency part-owned by Moody's Investors Service, rose by 141% on its debut day on the markets, becoming the fourth biggest riser on the listing day.
ICRA, which was listed at Rs 525 per share on the Bombay Stock Exchange - 60% premium from the issue price of Rs 325, ended the day at Rs 797.60. The top three biggest gainers on the listing day were Tantia Construction (220% increase), Nissan Copper (230%) and Cambridge Technologies (163%).
Moody's shareholding at 28.51% is valued at Rs 204.19 crore at the current prices while State Bank of India's stake of 9.99% is worth Rs 80 crore.
New Delhi-based ICRA raised Rs 39.42 crore ($9.2 million) selling about 1.2 million shares at Rs 330 apiece.Investors of ICRA, including IFCI, the administrator of the Unit Trust of India and the State Bank of India, sold their stakes in the initial sale.
Domestic financial institution IFCI sold its entire 21% stake (1.86 million shares), while Unit Trust sold 7,00,000 shares (7.95% stake) and State Bank of India offloaded 20,500 shares, equivalent to 1.6%, out of its 11.6% holding in ICRA.
ICRA, which was listed at Rs 525 per share on the Bombay Stock Exchange - 60% premium from the issue price of Rs 325, ended the day at Rs 797.60. The top three biggest gainers on the listing day were Tantia Construction (220% increase), Nissan Copper (230%) and Cambridge Technologies (163%).
Moody's shareholding at 28.51% is valued at Rs 204.19 crore at the current prices while State Bank of India's stake of 9.99% is worth Rs 80 crore.
New Delhi-based ICRA raised Rs 39.42 crore ($9.2 million) selling about 1.2 million shares at Rs 330 apiece.Investors of ICRA, including IFCI, the administrator of the Unit Trust of India and the State Bank of India, sold their stakes in the initial sale.
Domestic financial institution IFCI sold its entire 21% stake (1.86 million shares), while Unit Trust sold 7,00,000 shares (7.95% stake) and State Bank of India offloaded 20,500 shares, equivalent to 1.6%, out of its 11.6% holding in ICRA.
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