The announcement was made after market hours yesterday, 17 July 2019.

Meanwhile, the S&P BSE Sensex was down by 103.39 points, or 0.26% to 39,112.72.

On the BSE, 1925 shares were traded in the counter so far compared with average daily volumes of 756 shares in the past two weeks. The stock had hit a high of Rs 880.25 and a low of Rs 862 so far during the day. It hit a 52-week high of Rs 1399 on 5 September 2018 and a 52-week low of Rs 850.7 on 12 July 2019.

CARE Ratings reported that Rajesh Mokashi, managing director & CEO of CARE is on leave, with immediate effect, until further notice pending completion of the examination of an anonymous complaint received by the Securities and Exchange Board of India (SEBI).

The company has decided to appoint T.N. Arun Kumar, currently executive director (ratings), as interim chief executive officer (CEO) of the company. He will not be part of rating operations to ensure independence of ratings.

The company's net profit decreased 13.2% to Rs 34.64 crore on a 13.7% rise in net sales to Rs 81.49 crore in Q4 March 2019 over Q4 March 2018.

CARE Ratings provides various credit ratings that help corporates to raise capital for their various requirements and assist the investors to form informed investments decision based on the credit risk and their own risk-return expectations.