{"id":67138,"date":"2022-10-07T17:05:00","date_gmt":"2022-10-07T11:35:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=67138"},"modified":"2022-10-07T17:41:31","modified_gmt":"2022-10-07T12:11:31","slug":"icra-care-ratings-in-the-green-as-sebi-takes-regulatory-action-against-competitor","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/icra-care-ratings-in-the-green-as-sebi-takes-regulatory-action-against-competitor\/","title":{"rendered":"ICRA, CARE ratings in the green as SEBI takes regulatory action against competitor\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3440452354\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of credit rating agencies CARE ratings and ICRA inched higher on Friday\u2019s early trades after the Securities and Exchange Board of India (SEBI) took action against their peer. CARE ratings gained 4.81% to reach an intraday high of \u20b9536.85, while ICRA gained 2.53% to reach an intraday high of \u20b9 4100.00.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-386667578\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The capital market regulator has issued a winding-up order against Brickwork Ratings and has asked them to wind down operations within six months. Therefore, analysts believe that this could translate to more business for ICRA and CARE Ratings.&nbsp;<\/p><p>The SEBI on October 6th, cited failure on the part of Brickwork Ratings to &#8220;exercise proper skill, care and diligence, while discharging its duties as a credit rating agency&#8221;.&nbsp;<\/p><p>One of the major lapses cited by SEBI was the delay in the recognition of the default of NCDs of Bhushan Steel Ltd. even after the disclosure of default by the debenture trustee. It highlighted a lack of surveillance mechanisms for tracking the interest\/ principal repayment schedule of issuers, which would hamper the rating agency&#8217;s ability to provide accurate ratings.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-3434562584\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The regulator said that credit ratings are relied upon by investors, including institutional investors like Provident Funds and Mutual Funds which handle public funds, not just while assessing investment opportunities, but also in making investment decisions.&nbsp;<\/p><p>SEBI stated that the repeated lapses, noticed across multiple inspections conducted by it, show that governance changes recommended in earlier inspections, and monetary penalties imposed have &#8220;not proved effective or deterred the Notice (Brickwork Ratings) in addressing very basic requirements of running a CRA.\u201d It started probing the agency in 2020 and undertook a joint inspection with the RBI.\u00a0<\/p><p>Brickwork Ratings is a SEBI-registered credit rating agency in India and a Reserve Bank of India (RBI) accredited credit rating agency. It provides various rating services and products across capital market instruments and bank loans for various sectors. In addition, it rates structured finance transactions, fixed deposit programmes, certificates of deposits and mutual funds.\u00a0<\/p><p>A few other credit rating agencies in India are Crisil, Care, ICRA, Fitch, Infomerics Ratings, and Acuit\u00e9 Ratings &amp; Research. Amongst these, Crisil has a 60% market share.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-4080203682\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of credit rating agencies CARE ratings and ICRA inched higher on Friday\u2019s early trades after the Securities and Exchange Board of India (SEBI) took action against their peer. CARE ratings gained 4.81% to reach an intraday high of \u20b9536.85, while ICRA gained 2.53% to reach an intraday high of \u20b9 4100.00.&nbsp; The capital [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-67138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICRA, CARE ratings in the green as SEBI takes regulatory action against competitor\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/icra-care-ratings-in-the-green-as-sebi-takes-regulatory-action-against-competitor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICRA, CARE ratings in the green as SEBI takes regulatory action against competitor\u00a0\" \/>\n<meta property=\"og:description\" content=\"The shares of credit rating agencies CARE ratings and ICRA inched higher on Friday\u2019s early trades after the Securities and Exchange Board of India (SEBI) took action against their peer. CARE ratings gained 4.81% to reach an intraday high of \u20b9536.85, while ICRA gained 2.53% to reach an intraday high of \u20b9 4100.00.&nbsp; The capital [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/icra-care-ratings-in-the-green-as-sebi-takes-regulatory-action-against-competitor\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-07T11:35:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-07T12:11:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/SEBI-2-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/SEBI-2-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/icra-care-ratings-in-the-green-as-sebi-takes-regulatory-action-against-competitor\/\",\"url\":\"https:\/\/tradebrains.in\/features\/icra-care-ratings-in-the-green-as-sebi-takes-regulatory-action-against-competitor\/\",\"name\":\"ICRA, CARE ratings in the green as SEBI takes regulatory action against competitor\u00a0 - 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