CARE reaffirms credit ratings of JMC Projects (India) Limited

CARE Ratings Limited vide its press release dated September 29, 2020 has reaffirmed the rating of Long Term Bank Facilities & Non-Convertible Debentures as CARE A+; Stable (Single A Plus; Outlook: Stable). Further, it has downgraded the rating of Short Term Bank Facilities from CARE Al+ (A One Plus) to CARE Al (A One), thereby giving the rationale for such downgrade. The revision in Short Term Bank Facilities rating is on account of high working capital intensity of operations which is likely to remain high amidst heightened execution challenges due to Covid-19 pandemic along with continued funding requirement for Company's underperforming operational toll projects.

Shares of JMC PROJECTS (INDIA) LTD. was last trading in BSE at Rs.50.05 as compared to the previous close of Rs. 51.1. The total number of shares traded during the day was 3302 in over 59 trades.

The stock hit an intraday high of Rs. 50.95 and intraday low of 50. The net turnover during the day was Rs. 166195.

Source : Equity Bulls

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