ICRA sees a downgrade to Neutral on account of less fundamental stars
The independent financial analyst theScreener just lowered the general evaluation of ICRA (IN), active in the Business Support Services industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date October 27, 2020, the closing price was INR 2,693.60 and its target price was estimated at INR 2,325.39.ICRA Limited (ICRA) is an independent and professional investment Information and credit rating agency. The Company operates through four segments: Rating, research and other services; Consulting services; Outsourced and Information services, and Professional and I.T. Services. The Company is engaged in providing rating and grading services. ICRA rates rupee-denominated debt instruments issued by manufacturing companies, commercial banks, non-banking finance companies, financial institutions, public sector undertakings and municipalities, among others. ICRA also rates structured obligations and sector-specific debt obligations, such as instruments issued by power, telecom and infrastructure companies. It offers other services, which include corporate governance rating, stakeholder value and governance rating, credit risk rating of debt mutual funds, project finance rating, line of credit rating and valuation of principal protected-market linked debentures (PP-MLD).
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