Buy Steel CARE; target of Rs 1592: Karvy

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26 Aug, 2025 12:21

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Karvy's reserach report on CARECARE Ratings is the second largest credit rating agency in India with rating volume debt of Rs. 68080 Bn as on Mar 31, 2015. The company has emerged as a leading agency for covering rating segments like bank loans, IPO grading, credit research etc. Incorporated in the year 1993, head quartered in Mumbai, CARE provides a wide range of unbiased ratings for the clients across all the sectors. CARE research and information is an independent division of CARE, which provides insights into research and analysis on Indian economy and sectors. The company has acquired license in 2011 to commence credit rating operations in Maldives. In the year 2012, CARE acquired 75.13% stake in Kalypto Risk Technologies Pvt Ltd which provides risk management solutions in the banking and financial services domain. Further, during FY15, CARE has acquired the balance 24.87% shares of Kalypto making it 100% subsidiary. CARE Ratings (Africa) Pvt. Ltd (CRAF) was incorporated on December 12, 2014 in Mauritius. Further, CRAF received the licence from the Financial Services Commission, Mauritius on May 07, 2015 for credit rating operations.At the CMP of Rs. 1297, CARE Ratings is currently trading around 18.6x FY18E EPS. We value the company at P/E 23.0x for FY18E EPS for a target price of Rs.1592, based on the company’s future prospects and average PE of the past three years. We, therefore, initiate coverage on CARE Ratings with a “BUY” rating for a target price of Rs. 1592 representing an upside potential of 23% in 15-18 months period.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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