New Delhi: CRISIL Ltd on Thursday said it has bought 26.22 lakh shares or 8.9% stake in CARE Ratings Ltd in a block deal from Canara Bank. “The investment has been made pursuant to a bid process conducted by Canara Bank, subsequent to their request for quotation issued on June 19. As of March 2017, Canara Bank held 8.9% stake in the bank. At 10.50am, Canara Bank rose 3.2% to Rs335.80, while CRISIL rose 1% to Rs1,940. This stake purchase is an investment in the excellent long term prospects of the credit rating sector in the country.

Source: Mint June 29, 2017 04:49 UTC