With news of recession all around, I again feel like buying something. One of stocks I feel particularly good value is CRISIL. It being a rating company, there is no reason for it having any less work. In fact its work should only increase due to implementation of Basel 2 norms under which banks will get its loan rated. Further credit lending by banks declined sharply, now corporates will be forced to come out with some public issues of debt. All this means increased income for rating agencies and Crisil being largest stand to garner maximum benefit. In fact it is already being reflected in its rising profits and thus resulting in lower P/E ratio. P/E has come down from range of 20-25 to less than 10 in last 12 months and with still good growth in profit, it looks a great buy in times of recession.
