Cement News

Shree Cement gets ‘CARE AAA’ rating on long-term facilities worth Rs150 crore; stock gains ~1.5%

Shree Cement Limited informed that CARE Ratings Limited has assigned a ‘CARE AAA’ rating to long-term bank facilities of the company worth Rs150 crore. It has given a Stable outlook on these facilities.

Further, CARE has reaffirmed the ‘CARE AAA’ rating on long-term bank facilities of the company worth Rs1,100 crore, with a Stable outlook.

Company’s short-term facilities’ limit has been enhanced from Rs800 crore to Rs1,200 crore. The rating on these facilities has been reaffirmed at ‘CARE A1+’.

CARE has also assigned a ‘CARE A1+’ rating to the Commercial Paper programme worth Rs400 crore of company.

At around 2.19 PM, Shree Cement was trading at Rs21,109.85 per piece, up by 1.23% from its previous closing of Rs20,853.25 on the BSE. The scrip touched intraday high and low of Rs21,150 and Rs20,666.65 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Source link