ICRA surges 9% after Parag Parikh Flexi Cap Fund buys stake

On March 18, PPFAS Mutual Fund A/C Parag Parikh Flexi Cap Fund purchased 201,655 shares, representing 2.09 per cent stake, in ICRA for Rs 56.06 crore

Shares of ICRA, on Friday, rallied 9 per cent intra-day to Rs 3,036.50 on the National Stock Exchange (NSE) after PPFAS Asset Management bought more than two per cent stake in the rating agency company via open market. The stock is trading close to its 52-week high level of Rs 3,137.90, touched on January 12, 2021.

On Thursday, March 18, PPFAS Mutual Fund A/C Parag Parikh Flexi Cap Fund purchased 201,655 shares representing 2.09 per cent stake in ICRA for Rs 56.06 crore. The mutual fund bought shares at price of Rs 2,780.04 per share through block deal on