ICRA reaffirms ratings of Astec LifeSciences Limited

The Rating Committee of ICRA, after due consideration has reaffirmed the long-term and short-term outstanding rating of Rs. 455 crore LOC of Astec LifeSciences Limited at [ICRA]AA- (pronounced ICRA double A minus) and [ICRA]A1+ (pronounced ICRA A one plus), respectively and assigned a short-term rating of [ICRA]A1+ (pronounced ICRA A one plus) to the additional limit of Rs. 79 crore. The outlook on the long-term rating is Stable.

The Rating Committee of ICRA, after due consideration of the latest developments in Astec LifeSciences Limited, has reaffirmed the rating assigned to the Rs. 150 crore Commercial Paper Programme at [ICRA]A1+ (pronounced as ICRA A one plus). Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations.

Shares of ASTEC LIFESCIENCES LIMITED was last trading in BSE at Rs.663.25 as compared to the previous close of Rs. 658.45. The total number of shares traded during the day was 20637 in over 2109 trades.

The stock hit an intraday high of Rs. 674 and intraday low of 639.05. The net turnover during the day was Rs. 13623530.

Source : Equity Bulls

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