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CARE Rankings downgrades Rana Kapoor’s Morgan Credit rating that owns 3% of Sure Monetary institution – Moneycontrol

CARE Rankings downgrades Rana Kapoor’s Morgan Credit rating that owns 3% of Sure Monetary institution – Moneycontrol

Closing Up thus some distance : Sep 17, 2019 10: 21 PM IST | Source:Moneycontrol.com

Morgan Credit rating and Sure Capital, are the two promoter shareholders of Sure Monetary institution.

Rana Kapoor

Score company CARE has downgraded Rana Kapoor-owned Morgan Credit rating (MCPL), that is additionally a promoter entity of Sure Monetary institution.

The ranking has been downgraded to BBB- from A-. “The revision in ranking takes into myth the autumn in the stock ticket of the underlying shares of Sure Monetary institution Ltd (YBL) which would possibly perchance presumably be held by MCPL or Promoters and/or their relatives,” CARE stated in its file.

“The revised ranking considers the moderation in duvet attributable to descend in the stock ticket of the underlying shares of YBL,” it stated.

The quilt ratio in case of listed shares is the ratio of the market price of the pledged shares to the excellent debt (including myth curiosity at the pause of every six months.

TheSure Monetary institutionstock, which used to be procuring and selling around Rs 275 in April, is now down to around Rs 65. The controversial exit of Rana Kapoor and a pointy deterioration in the monetary performance of the monetary institution be pleased been the main causes for the decline in the stock ticket.

Morgan Credit rating and Sure Capital, the two promoter shareholders of Sure Monetary institution, proudly owning 3.03 percent and 3.26 percent stake, respectively, had no longer too long previously written to the surveillance departments of BSE and the Nationwide Stock Substitute (NSE) alleging that short sellers are hammering the stock by spreading detrimental messages relating to the monetary institution.Moneycontrolis in possession of a copy of the letter.Get receive admission to to India’s quickest rising monetary subscriptions carrier Moneycontrol Professional for as minute asRs 599 for first year. Spend the code “GETPRO”. Moneycontrol Professional will give you the final recordsdata that you can like for wealth advent including actionable investment suggestions, self sustaining evaluate and insights & prognosis For more recordsdata, take a be pleased a examine the Moneycontrol online net page or mobile app.

First Printed on Sep 17, 2019 09: 52 pm

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