Moody's Corporation made the announcement after market hours on Thursday, 19 June 2014.

Meanwhile, the BSE Sensex was almost flat at 25,201.36.

On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 4,260 shares in the past one quarter.

The stock hit a high of Rs 2,779.40 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 2,385 so far during the day. The stock hit a 52-week low of Rs 940 on 8 July 2013.

The stock had outperformed the market over the past one month till 19 June 2014, rising 23.86% compared with 3.44% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.59% as against Sensex's 15.43% rise.

The small-cap company has an equity capital of Rs 10 crore. Face value per share is Rs 10.

Moody's Corporation announced that it has secured a majority equity ownership stake in ICRA, a leading provider of credit ratings and research in India, increasing its stake from 28.51% to 50.06%.

"The successful conclusion of our offer for a majority stake in ICRA will allow us to extend our strong ties as we work together to serve the growing domestic debt market in India and across the region," said Raymond McDaniel, President and Chief Executive Officer of Moody's.

Based on current exchange rates, the total value of the transaction is approximately $86 million, or Rs 517 crore, Moody's said in a statement.

Moody's Singapore had on 21 February 2014 announced a conditional open offer for acquisition of up to 26.50 lakh equity shares, or 26.50% equity, at Rs 2,000 per share from the shareholders of ICRA. The offer price was later revised to Rs 2,400 per share in May 2014.

The conditional open offer opened on 3 June 2014 and closed on 16 June 2014. Moody's acquired 21.54 lakh shares, or 21.55% equity, of ICRA through the open offer.

ICRA's consolidated net profit declined 14.3% to Rs 22.03 crore on 0.1% growth in total income to Rs 83.39 crore in Q4 March 2014 over Q4 March 2013.

ICRA is an independent and professional investment information and credit rating agency. Moody's first purchased an ownership stake in ICRA in 1998.