ICRA-assigned Credit Rating for Rs. 350.00 crore Bank Facilities of Minda Industries Limited

The Rating Committee of ICRA, after due consideration has upgraded the long-term ratio to [ICRA] AA+ (pronounced ICRA double A plus) from [ICRA]AA (pronounced ICRA double) and reaffirmed the short-term rating at (ICRA]Al+ (pronounced ICRA A one plus) ("Rating") for the captioned bank facilities. The outlook on the long-term rating is Stable. Instruments with [ICRA] AA+ Rating indicate high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Shares of Minda Industries Ltd. was last trading in BSE at Rs. 729.15 as compared to the previous close of Rs. 720.5. The total number of shares traded during the day was 8872 in over 643 trades.

The stock hit an intraday high of Rs. 734.55 and intraday low of 718.75. The net turnover during the day was Rs. 6455580.

Source : Equity Bulls

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