Bajaj Electricals Limited - Ratings reaffirmed; outlook revised to stable from negative

The rating committee of ICRA Limited ("Rating Agency"), based on a review of the latest developments and after due consideration, has:

- reaffirmed the long-term rating at [ICRA]A- (pronounced ICRA A minus) and short-term rating at [ICRA]A2+ (pronounced ICRA A two plus) for Rs.4,742.50 crore Line of Credit of the Company. The Outlook on the said long-term rating has been revised to 'Stable' from 'Negative'; and

- reaffirmed the rating for Rs.200 crore Non-Convertible Debenture (NCD) programme of the Company at [ICRA]A- (pronounced ICRA A minus). The Outlook on the long-term rating for the said NCD programme has been revised to 'Stable' from 'Negative'.

Shares of BAJAJ ELECTRICALS LTD. was last trading in BSE at Rs.615.95 as compared to the previous close of Rs. 611.8. The total number of shares traded during the day was 5833 in over 416 trades.

The stock hit an intraday high of Rs. 622.05 and intraday low of 605.3. The net turnover during the day was Rs. 3592734.

Source : Equity Bulls

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