ICRA upgrades rating of Panama Petrochem Limited

ICRA Limited has upgraded Panama Petrochem Limited's credit rating, on the basis of healthy financial profile characterised by strong revenue growth in FY2021 on the back of growing demand from end user industries and improved sales realisation and comfortable capital structure and coverage indicators

- Revised / upgrade the rating, on long term bank facilities /fund based limits to [ICRA]A(Stable); from [ICRA]A-(Stable)

- Revised/upgrade the rating, on short term bank facilities / non-fund based limits to [ICRA]A1; from [ICRA]A2+

Shares of Panama Petrochem Ltd. was last trading in BSE at Rs. 266.65 as compared to the previous close of Rs. 264.8. The total number of shares traded during the day was 18162 in over 856 trades.

The stock hit an intraday high of Rs. 274.75 and intraday low of 264.45. The net turnover during the day was Rs. 4861082.

Source : Equity Bulls

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