Crisil share price jumps over 8% post strong Q3 results; here’s what technical analysts say

Crisil share price surged over 8% on Thursday's session following the rating agency's results for the third quarter ended September 30, 2024. On Wednesday, Crisil announced a 13% increase in its consolidated net profits, reaching ₹171.55 crore for the quarter ending in September. Its total revenue climbed to ₹833 crore in the third quarter of September from ₹771.84 crore in the corresponding period last year. Crisil share price today opened at ₹4,993 apiece on the BSE, the stock touched an intraday high of ₹5,184.50, and an intraday low of ₹4,961.95.

According to Ruchit Jain, Lead Research Analyst at 5paisa, the stock is forming a higher top higher bottom structure and is this in an uptrend. The upmove is also supported by good volumes and hence the momentum is likely to continue. The support is placed around ₹4,800-4,600.

“Crisil share price has seen a strong gap up opening, and we are witnessing a follow-up buying pushing prices upward, gaining around 7%. This upmove is supported with strong volumes, and as long as the bullish gap around 4800 holds, maintain a positive bias using dips to buy. The next resistance is around 5,700,” advised Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One.

Crisil Ltd stated in a regulatory submission that the Board of Directors has given the go-ahead for the disbursement of a third interim dividend of ₹15 for every equity share with a face value of Re 1 for the fiscal year concluding on December 31, 2024.

The board of directors of Peter Lee Associates Pty Ltd (PLA) and Crisil Irevna Australia Pty Ltd (Crisil Australia), both wholly-owned subsidiaries of Crisil Ltd based in Australia, has given approval for the sale of PLA's business to CRISIL Australia.

Following this approval, PLA will be deregistered, leaving only one subsidiary, Crisil Australia, to operate in Australia, as per a BSE filing by Crisil Ltd. CRISIL Australia will provide a cash payment equivalent to the net asset value of PLA's business on the completion date of the transfer.

"Global growth patterns are diverging, with the US slowing, the Eurozone recovering, and India displaying robust GDP growth. Geopolitical uncertainties remain a risk. Our businesses have demonstrated resilience, 'focusing on developing core capabilities through our domain-led IP and digital initiatives, and remain committed to creating long-term value for our stakeholders. We are investing in new-age technologies, including Gen Al, and have successfully deployed a Gen Al Credit Assessment solution for our global clients," said Amish Mehta, Managing Director and CEO, Crisil Ltd.

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