The credit rating agency ICRA Ltd has revised the long term credit rating for the bank lines of Archies Ltd for Line of Credit from ICRA BBB+ to ICRA BBB. The outlook on the long term rating is Stable.
ICRA has also revised the short term rating for the commercial paper programme of the company from ICRA A2 to ICRA A3+. The revision in rating is due to limited consumer preference for traditional social expression industry (greeting cards and gift), given the ease of digital modes of expression, which was exacerbated by the impact of recent demonetisation of the Indian currency.
Shares of ARCHIES LTD. was last trading in BSE at Rs.26.3 as compared to the previous close of Rs. 23.2. The total number of shares traded during the day was 636939 in over 2520 trades.
The stock hit an intraday high of Rs. 27.2 and intraday low of 23.3. The net turnover during the day was Rs. 16681019.