@manoj I did not care (pun intended) to buy into CARE because,
There is this conflict of interest with rating agencies all the time. It is behaviourally difficult to downgrade a company's bond etc. when that company is paying you and when that company is a source of your revenues. I read few books related to 2009 financial crisis and was fascinated by how these rating agencies work. Fascinated here in a sarcastic way.
It's difficult to rate a company because it is difficult to know practically ALL the details of a company and one fine day some issue sees the light of the day and the rating company which rated it so far will be thrashed.
It is for this reason I did not invest in rating agencies and the reason showed up itself in Amtek for example. This is not the first one and the last one, you will see many such instances in corporate India as our economy leaps in the coming years.
In way, these are like aviation companies. Once in a while a plane crashes which could be due to manufacturer fault or the airlines but more than manufacturer's stock the airlines stock is hammered. See what happened to Malaysian airlines. Bad example, eh?
HOWEVER, I think the BOND market itself is so HUGE that opportunities to grow in this field are AMPLE, just that a black swan event could pull you down by 2-3 years in terms of stock price. So, why buy when there are other opportunities.
I won't invest 2-3% in a stock, it should be around 10% at least and I'm not comfortable investing 10% YET.
Stock hitting 52 week low due to 'so and so' reason which is beyond companies hands should never be a REASON to buy it.
This is my thinking and I could be entirely wrong.