ICRA Revises Ratings of Tata Power

Tata Power Company Ltd has announced that ICRA Ltd has revised the ratings on the Company's NCD programme aggregating Rs 15 billion from LAAA to LAA indicating high credit quality. The above rating, which was put under Rating Watch with negative implications in March 2007, has now been taken off the Rating Watch.

The A1+ rating on the Short Term Debt programme aggregating Rs 5 billion has been retained. The A1+ rating signifies highest credit quality in the short term.

The stock closed the day at Rs.667.50, down by Rs.26.50 or 3.82%. The total traded quantity was 65211 compared to 2 week average of 81353. The stock hit an intraday high of Rs.693 and low of Rs.664.10.

Source : Equity Bulls

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