Canara Bank acquires 10% stake in Brickwork Ratings - Angel Broking

Canara Bank announced on Tuesday that it has invested in Brickwork Ratings, a Bengaluru based Credit Rating Agency by buying a 10% stake in the company. The press release stated that they would collaborate in various activities related to banking and credit rating. Also, this would help them take up joint activities on risk management, training, research, financial inclusion, credit rating models, etc.

We maintain our Buy rating on the stock, with a target price of Rs. 423.

Source : Equity Bulls

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