CRISIL share price surges 52% in June so far – Rakesh Jhunjhunwala-backed firm’s stock hit a new 52-week high today

CRISIL share price surges 52% in June so far – Rakesh Jhunjhunwala-backed firm’s stock hit a new 52-week high today

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This Rakesh Jhunjhunwala-backed credit rating firm — CRISIL Limited has surged almost 52 per cent in the month of June so far. The stock on Wednesday has surged over four per cent, hitting a new 52-week to Rs 2955 per share on the BSE intraday. 

A celebrity investor Rakesh Jhunjhunwala along with his wife Rekha has a total investment of over Rs 1200 crore, which represents around 5.5 per cent combined stake in the company. 

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The stock on June 1, 2021, was trading at Rs 1948.4 per share, while it hit a fresh high today which is near to Rs 3000 per share levels. It has surged over 20 per cent in the last five sessions, while the shares of this credit rating agency have jumped almost 56 per cent since May 23, 2021. 

On an individual basis, Rakesh Jhunjhunwala held 21,06,750 shares, which comprises of 2.9 per cent stake, while Rekha Jhunjhunwala has 18,68,250 shares of the company, comprising of 2.57 per cent holding in CRISIL, according to the BSE data. 

Besides Jhunjhunwala other key investors in this company are Life Insurance Corporation and General Insurance Corporation of India each holding 5.92 and 3.3 per cent holding in the company respectively, as per the data available on BSE. 

The rating agency on Wednesday issued a clarification on the price movement query, which was raised by the National Stock Exchange on June 22, 2021. 

CRISIL said in a filing to exchanges said, “We would like to apprise you that we may need to make an announcement in the future relating to a sale of a property, in the range of approximately Rs 49 crores, which is still at a non-binding MOU stage and is subject to certain conditionalities.” 

Continuing with its necessary disclosures in accordance with SEBI guidelines, the company reiterates that it will continue to inform the stock exchanges about any price-sensitive information as required. 

CRISIL erstwhile known as Credit Rating Information Services of India, Limited is a subsidiary of the US company S&P Global, which provides ratings, research, and risk and policy advisory services.



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