India Ratings & Research (Ind-Ra) has vide its letter dated 30th March 2020 has withdrawn its rating for the company pursuant to the credit facility to which it pertained being repaid in full.
However, while doing so, it has downgraded the ratings to IND A- / Stable / Ind A1 while stating as follows:
"Ind-Ra continues to expect IMFA's integrated nature of operations, leading market position, adequate liquidity and long term off-take agreements with customers to help it tide over the cyclical downturn."
Shares of INDIAN METALS & FERRO ALLOYS LTD. was last trading in BSE at Rs.117.9 as compared to the previous close of Rs. 109.5. The total number of shares traded during the day was 62 in over 9 trades.
The stock hit an intraday high of Rs. 117.9 and intraday low of 101.65. The net turnover during the day was Rs. 6737.