ICRA is a debt free company mainly into Credit Rating and Grading of IPO's. They have a strong business model. ICRA and CRISIL dominate Credit Rating and IPO Grading businesses and both have acquired a large market share. ICRA has an alliance with Moody's investors service. The growth outlook of the Company is bright with many firms expected to come up with IPO once market stabilizes.
In past financial year, it clocked 130 crores in revenues and 45 crores in net profit. The stock price has fallen significantly due to global economic turmoil. It is currently available at attractive valuation and recommended by many analysts. Once market starts bouncing back, ICRA is expected to give good returns.
Current Market Price - 940.15
Target Market Price - 1250
Duration - 1 Year.
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