India Ratings Downgrades and Migrates Omax Autos to NonCooperating Category

India Ratings and Research (Ind-Ra) has downgraded Omax Autos Limited's (Omax) Long-Term Issuer Rating to 'IND BBB-' from 'IND BBB+'. The agency has simultaneously migrated the rating to the non-cooperating category. The issuer did not participate in the surveillance exercise despite continuous requests and follow-ups by the agency. Thus, the rating is based on the best-available information. Therefore, investors and other users are advised to take appropriate caution while using these ratings. The rating will now appear as 'IND BBB-(ISSUER NOT COOPERATING)' on the agency's website.

Shares of OMAX AUTOS LTD. was last trading in BSE at Rs.45.7 as compared to the previous close of Rs. 44.55. The total number of shares traded during the day was 5369 in over 134 trades.

The stock hit an intraday high of Rs. 46 and intraday low of 43.8. The net turnover during the day was Rs. 242959.

Source : Equity Bulls

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