Total Fixed Deposits Ra" />
Total Fixed Deposits Ra" />
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Acuité Ratings upgrades ratings of Mukand Ltd

Posted On: 2021-04-13 20:46:08 (Time Zone: Arizona, USA)


Acuité Ratings & Research Limited("ACUITE") vide its letter dated 13th April, 2021, has intimated about revision / upgrade in the Ratings of various credit facilities / exposures of Mukand Ltd as below:

Total Fixed Deposits Rated - Rs. 120.48 Crore
Fixed Deposit Rating - ACUITE FA / Outlook: Stable (Upgraded from FBB/Negative)

Total Bank Facilities Rated - Rs. 1,045.48 Crore
Long Term Rating - ACUITE BBB-/ Outlook: Stable (Upgraded from ACUITE BB/Negative)

Short Term Rating - ACUITE A3 (Upgraded from ACUITE A4+)

The rating upgrade and revision in the outlook from 'Negative' to 'Stable' is driven by the company's significant progress in land parcel monetization and disinvestment in a joint venture company while utilizing the proceeds to repay the outstanding debt from lenders and group companies, thereby improving on the financial risk profile. The company has received an approx. Rs. 1,510 Cr through these transactions during FY2021 and reduced debt to a major extent which is also expected to reduce the interest burden. Acuité believes that the monetization transactions will not only strengthen the overall capital structure and the liquidity position of the company but also lead to an uptick in net profitability levels going forward. Further, there is a significant likelihood of the completion of a second phase of the monetization plans in FY2022 which should reduce the debt further and support the working capital requirement of the company.

Shares of MUKAND LTD. was last trading in BSE at Rs.89.75 as compared to the previous close of Rs. 85.65. The total number of shares traded during the day was 45725 in over 767 trades.

The stock hit an intraday high of Rs. 90.4 and intraday low of 86. The net turnover during the day was Rs. 4077524.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Aarti Industries Ltd board approves fund raising proposal

PI Industries Limited board recommends final dividend of Rs. 2

Power Finance Corporation Limited arm forms two SPVs

Aarti Industries Limited board recommends 1:1 bonus issue

PI Industries Ltd Q4FY21 consolidated PAT at Rs. 179.8 crore

Chalet Hotels Ltd board approves issue of NCDs, NCNCRPS

Aarti Industries Ltd board recommends final dividend of Rs. 3

NLC India Limited announces shut down of Unit 5

Aarti Industries Ltd Q4FY21 consolidated net profit at Rs. 136.10 crore

Chalet Hotels Ltd to repurpose Sahar Mumbai Retail Mall into Commercial Office space

Ester Industries Ltd Board approves final dividend of Rs. 1.90

GlaxoSmithKline Pharmaceuticals Ltd board recommends dividend of Rs. 30

Chalet Hotels Ltd reports Q4 and FY21 results

Ester Industries Ltd Q4FY21 PAT at Rs. 33.88 crore

GlaxoSmithKline Pharmaceuticals Limited Q4FY21 consolidated net profit at Rs. 14.33 crore

Vi announces Covid-19 Special Relief Offers for 60 Mn Low Income Users

Edelweiss General Insurance launches IPOS, an end to end partner onboarding solution

Exide Life Insurance launches 'Guaranteed Wealth Plus', a Savings Plan with Unmatched Income and Guaranteed Maturity Benefits

Minda Corporation Ltd board recommends final dividend of Rs. 0.35

Inventure Growth & Securities Ltd to launch zero brokerage online trading platform

Minda Corporation Ltd Q4FY21 consolidated net profit at Rs. 12.92 crore

Torrent Pharmaceuticals Ltd reports Q4FY21 consolidated PAT of Rs. 324 crores

Gujarat Alkalies and Chemicals Ltd Board approves Dividend of Rs. 8

Brigade Enterprises Ltd board recommends final dividend of Rs. 1.20

Karur Vysya Bank donates Rs. 1.00 crore to the Tamil Nadu State Disaster Management Authority from its CSR funds

Gujarat Alkalies and Chemicals Ltd Q4FY21 consolidated PAT up at Rs. 34.66 crore

Brigade Enterprises Ltd Q4FY21 consolidated net profit at Rs. 39.57 crore

Majesco Collaborates with Infosys to Accelerate Digital Experience for Insurers

Ujjivan Small Finance Bank Ltd reports earnings for Q4FY21, FY2021

Shilp Gravures Ltd Board recommends dividend of Rs. 1.80

Opus Capital Markets Consultants Now Wipro Opus Risk Solutions

Shri Bajrang Alliance Ltd opens 3 new retail stores at Chandigarh

Umang Dairies Ltd Board recommends Dividend of Rs. 0.50

Torrent Pharmaceuticals Ltd Board recommends Final Dividend of Rs. 15

Astral Ltd Board approves final dividend of Rs. 1

Shilp Gravures Ltd Q4FY21 consolidated PAT declines QoQ to Rs. 1.45 crore

Upsurge Investment & Finance Ltd posts PAT of Rs. 2.21 crore in Q4FY21

Tata Motors Ltd posts Rs. 7605.40 crores consolidated loss in Q4FY21

Jindal Stainless (Hisar) Limited posts Q4FY21 consolidated PAT of Rs. 349.95 crore

Umang Dairies Ltd Q4FY21 loss at Rs. 1.02 crore

JSL Industries Ltd reports PAT of Rs. 0.09 crore in Q4FY21

Astral Ltd Q4FY21 consolidated PAT jumps to Rs. 174.6 crore

Coromandel Engineering Company Ltd posts PAT of Rs. 2.52 crore in Q4 FY2020-21

Century Enka Ltd board approves investment of Rs. 240 crores capex

Route Mobile Ltd board recommends dividend of Rs. 2

Pioneer Embroideries Ltd board recommends dividend of Rs. 0.25

Century Enka Ltd Board recommends Dividend of Rs. 8

Route Mobile Ltd Q4FY21 consolidated PAT falls QoQ to Rs. 35.36 crore

Pioneer Embroideries Ltd Q4FY21 consolidated PAT up at Rs. 10.57 crore

Jyothy Labs Ltd Board approves dividend of Rs. 4


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020