Rakesh Jhunjhunwala portfolio: CRISIL shares zoom 4% post quarterly results 

Shares of CRISIL, a part of Big Bull's portfolio jumped over 4 per cent to hit an intraday high of Rs 3382.20 on BSE after the company posted its results for the quarter ended March 2022. 

The stock opened 4 per cent higher at Rs 3,380 against the previous close of Rs 3246.15. With a market cap of more than Rs 24,000 crore, the shares stand higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. 

The company posted a net profit of 121.62 crore for the quarter ended March 2022, up 46 per cent as against Rs 83.52 crore during the previous quarter ended March 2021.  

Net sales rose 20 per cent to Rs 594.94 crore in the quarter ended March 2022 as against Rs 495.20 crore during the previous quarter ended March 2021. 

CRISIL informed that India Research business witnessed growth in the quarter, driven by increased traction for fixed-income research, data solutions, and industry research. In the current quarter, the Research segment revenues grew by 26.3% 

According to the shareholding pattern for March 2022, Rakesh Jhunjhunwala holds a 2.89 per cent stake or 21,06,750 shares in the company. Big Bull's wife Rekha Jhunjhunwala holds 2.57 per cent stake or 18,68,250 shares in CRISIL. 

The Board of Directors also declared an interim dividend of Rs 7 per share (of Re 1 face value) in the current quarter ended March 31, 2022, compared with Rs 7 per share interim dividend declared during the same quarter last year. 

Amish Mehta, Managing Director and CEO, CRISIL said, "Rising geopolitical tensions have not only exacerbated existing inflationary pressures, but also added downside risks to a slowing world economy. This has forced central banks to accelerate monetary tightening and has raised the spectre of tighter financial conditions." 

"During the March quarter, we saw growth across our business. We continue to drive growth for our core offerings and in data analytics, risk transformation and sustainability. We are ramping up investments in talent and technology to enhance our future-readiness," he added. 

Recently, Anand Rathi initiated its coverage on CRISIL. The brokerage house believes that CRISIL will maintain its business growth momentum, driven by its investments in talent and technology, recovery in economic activities, new product offerings and solutions.