ICRA updates on Credit Rating of Mastek Limited

The Rating Committee of ICRA, after due consideration, has reaffirmed the long term rating of [ICRA] AA- (pronounced ICRA double A minus) and short-term rating of [ICRA]A1+ (pronounced as ICRA A one plus) assigned earlier to the Rs. 19.0 crore Bank Facilities of Mastek Limited and has assigned a long-term rating of [ICRA] AA- (pronounced ICRA double A minus) and a short-term rating of [ICRA] A1+ (pronounced ICRA A one plus) to the captioned Bank facilities ("Rating") of Rs 67.0 crore.

The Outlook on the long-term rating is Stable. This Rating indicates high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Shares of Mastek Limited was last trading in BSE at Rs. 2681.00 as compared to the previous close of Rs. 2602.50. The total number of shares traded during the day was 8741 in over 2078 trades.

The stock hit an intraday high of Rs. 2722.30 and intraday low of 2602.45. The net turnover during the day was Rs. 23467623.00.

Source : Equity Bulls

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Mastek INE759A01021 RatingUpdate