New Delhi. Crisil’s stock is riding high after the excellent results of the third quarter. On Wednesday, CRISIL’s stock jumped 7 percent in the early trading of the stock market. Brokerage firms GCL Securities and IIFL Securities are now giving advice to buy this stock included in Rakesh Jhunjhunwala’s portfolio.
Shares of Crisil closed at Rs 2713.30 on NSE on Tuesday. Today i.e. on Wednesday, it opened at Rs 2910 with an increase of Rs 196.30. This is 7 percent more than the last bandh. Market analysts are acknowledging the strong results of the company’s December quarter (Crisil Q3 Results) as the reason for this rise. He says that this stock can go up to Rs 3,440 in the next three months.
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third quarter results
The reason for the tremendous rise in Crisil’s stock is attributed to the excellent results of the third quarter, Ravi Singhal, Vice Chairman of GCL Securities. Singhal says that this rating company has increased its consolidated profit by 53 percent on an annual basis in the third quarter. Strong growth has also been achieved in Operational Revenue and EBITDA on an annual basis. He says that the economy is still gaining momentum, due to which the company will get more business. This is strongly expected to improve the company’s figures in the next quarters as well.
share buying advice
Anuj Gupta, Vice President, IIFL Securities has also advised investors to buy CRISIL shares included in Rakesh Jhunjhunwala’s portfolio. According to a report in Live Mint, Gupta says that this stock can be bought at the levels of Rs 2,700 to Rs 2,800. For the short term, he has given its target price (Crisil Share Target Price) from Rs 3,000 to 3,100. Gupta says that crossing 3,200 level is a big hurdle for this stock. Once it breaks this level, it can reach Rs 3,400 in three months. Anuj Gupta has advised investors to keep a stop loss of Rs 2,640 on this stock.
At the same time, Ravi Singhal of GCL is advising investors to buy this stock for the long term. Singhal says that this stock will gradually go up. Rating business is a new business in India. Very few people understand this business model. Therefore an investor can buy it for 4 to 5 years. This stock can increase three to four times during this period.
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Rakesh Jhunjhunwala’s stake
Rakesh Jhunjhunwala and his wife have invested in the company as per the shareholding pattern of CRISIL. Rakesh Jhunjhunwala has 21,29,250 shares or 2.92 percent stake, while Rekha Jhunjhunwala has 18,70,750 shares or 2.57 percent stake in Crisil’s total issue paid up capital.
Tags: Rakesh Jhunjhunwala, stock market
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