CRISIL Research has downgraded Helios and Matheson Information Technology’s (Helios’) CRISIL IER fundamental grade to 2/5 from 3/5.

The grade indicates that the company’s fundamentals are 'moderate’ relative to other listed equity securities in India. Our fair value of the stock is Rs.91 a  share.

At the current market price of Rs.134 a share, our valuation grade is 1/5 indicating that the current market price has strong downside. The grades are not a recommendation to buy, sell or hold the securities to which it relates (or any other securities), or a comment on the graded instrument’s future market price or its suitability for a particular investor. 

Shares of the company gained Rs 5.5, or 4.1%, to trade at Rs 139.80. The total volume of shares traded was 268,048 at the BSE (3.16 p.m., Friday).