CRISIL shares reach all time high, rally 5% on acquiring 4% stake in OPL

Shares of CRISIL hit their lifetime high at Rs 5,782.25 a piece on the BSE, rising 4.64 per cent in Friday’s intraday deals. This came after the credit rating agency picked up a 4 per cent stake in a digital credit infrastructure company on Thursday. 

 

“We wish to inform you that the Board of Directors of CRISIL, has approved an investment in the equity capital of Online PSB Loans (OPL) Limited of an amount of Rs. 33.25 crores, to acquire a 4.08 per cent stake in it, on a post-money, fully diluted basis,” the company said in an exchange filing. 

 

CRISIL further said, this is a minority stake investment to participate in the digital credit infrastructure ecosystem given OPL’s track record in partnering with leading financial institutions in this space. CRISIL may also explore opportunities to partner with OPL in areas related to MSME and agriculture sectors, it said. 

 

Ahmedabad based OPL is a pioneer in the digital MSME credit ecosystem transformation, connecting with multiple banks and establishing best-in-class, secure & scalable lending infrastructure catering to MSMEs and lenders. OPL has also expanded into insurance and agriculture ecosystems. 

 

In FY2023-24, OPL’s total revenue stood at Rs 44.87 crores with a net worth of Rs. 51.49 crore.

 

On the financial side, CRISIL reported a 12.86 per cent year-on-year increase in consolidated net profit, reaching Rs 171.55 crore for the third quarter ended September 2024. The company, a BSE-listed unit of S&P Global, follows the calendar year as its financial year. Consolidated total income for the quarter rose by 7.9 per cent year-on-year, reaching Rs 833.2 crore, up from Rs 771.8 crore in the same period of the previous year.

 

On the equities front, Bajel Projects stock has outperformed the market in the last six months as it has risen 38 per cent, while gaining 39 per cent in the last one year. In comparison BSE Sensex has risen 6 per cent year to date and 17 per cent in a year. 

 

The company has a total market capitalization of Rs 42,013.0 crore. Its shares are trading at a price to earnings multiple of 63 times and at an earning per share of Rs 87.62. 

 

At 1:00 PM; the shares of the company were trading 4.02 per cent higher at Rs 5,748 a piece. By comparison, the BSE Sensex was trading 0.26 per cent higher at 81,501.86 level.