ICRA Limited updates on rating of Deepak Nitrite and its subsidiary

ICRA Limited has today i.e. on 21st March, 2022:

- reaffirmed the long-term rating at [ICRA]AA (pronounced ICRA double A) and Short Term rating at [ICRA] A1+ (pronounced ICRA A one plus) for Rs. 490.00 Crores bank facilities and Rs. 200.00 Crores Commercial Paper (CP) of Deepak Nitrite Limited ('Company'). The outlook on the long-term rating has been revised to Positive from Stable; and

- upgraded long term rating from [ICRA] AA- (pronounced ICRA double A minus) to [ICRA] AA (pronounced ICRA double A) and re-affirmed Short Term rating at [ICRA] A1+ (pronounced ICRA A one plus) for Rs. 756.27 Crores bank facilities of Deepak Phenolics Limited (DPL), a wholly owned subsidiary of the Company. The outlook on the long-term rating has been revised to Positive from Stable.

Shares of Deepak Nitrite Limited was last trading in BSE at Rs. 2270.10 as compared to the previous close of Rs. 2229.65. The total number of shares traded during the day was 117674 in over 9834 trades.

The stock hit an intraday high of Rs. 2293.70 and intraday low of 2222.30. The net turnover during the day was Rs. 267713722.00.

Source : Equity Bulls

Keywords

DeepakNitrite INE288B01029 RatingUpdate DeepakPhenolics