Brickwork impact: Charts favour Icra; CRISIL, CARE Ratings test key levels

ICRA and CRISIL have gained up to 22 per cent so far this year, while Care Ratings has been a underperformer, down 14 per cent.

Securities and Exchange Board of India (Sebi), the regulatory body for securities and commodity market in India cancelled the licence of Brickwork Ratings on the ground of irregularities in 'discharging its duties', lack of due diligence, and repeated lapses. SEBI has directed the ratings agency unwind operations in the next six months.

In January 2020, Sebi and the RBI undertook a joint inspection of Brickwork, where the two regulators found “several irregularities”. Following this, Sebi had issued an administrative warning and directed it to rectify the discrepancies and take corrective measures. READ MORE
 

Meanwhile, in the domestic