ICRA reaffirms ratings of Acknit Industries Ltd

Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration, has reaffirmed the long-term rating at [ICRA]BBB- (pronounced ICRA triple B minus) ('Rating') and the short-term rating at [ICRA]A3 (pronounced ICRA A three) ("Rating").

The outlook on the long-term rating is 'Stable'. Instruments with [ICRA]BBB- rating indicate moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.

Instruments with [ICRA]A3 rating indicate moderate degree of safety regarding timely payment of financial obligations. Such instruments carry higher credit risk as compared to instruments rated in the two higher categories.

Shares of ACKNIT INDUSTRIES LTD. was last trading in BSE at Rs.92.1 as compared to the previous close of Rs. 91.3. The total number of shares traded during the day was 1946 in over 27 trades.

The stock hit an intraday high of Rs. 93.75 and intraday low of 89. The net turnover during the day was Rs. 178697.

Source : Equity Bulls

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