Canara Bank sells over Rs 11.54-cr shares in CARE rating

New Delhi: State-run Canara Bank has sold shares worth Rs 11.54 crore in Credit Analysis and Research Limited (CARE), a domestic rating agency.

The stake sale of 0.258 percent, or 74,955 shares, in the rating agency fetched the Bengaluru-based lender Rs 11.54 crore, Canara Bank said in a filing to the BSE.

Following the stake sale in the rating agency, the bank's shareholding came down to 10.3 percent from the earlier 10.5 percent.

Post announcement, Canara Bank's shares went down by 0.05 percent to Rs 397.85 apiece on the BSE, whereas CARE's scrip fell by 0.95 percent to Rs 1,519 per unit.

CARE Ratings commenced operations in April 1993.

In over nearly two decades, it has established itself as a premier credit rating agency in India.