CARE in limelight

CARE Rating is currently the top gainer on the BSE currently; it opened 8% higher at Rs.448 and went up to an intraday high at Rs.475.60, up over 14.5%.

The stock price rose after the company informed the exchanges that it has called a Board meeting on 20^th July  to consider a buyback proposal.

This buyback could be a way to control the persistent fall in value of stock by mopping up the free float from the market, which in turn improves the PE multiple.