ICRA revises rating of Nahar Industrial Enterprises Ltd

The Rating Committee of ICRA Limited has revised the long-term rating for the captioned Line of Credit (LaC) from [ICRA]A- to [ICRA]BBB+ (Negative). The Rating Committee has also revised the short-term rating for the captioned LaC from [ICRA]A2+ to [ICRA]A2.

The reason for downward revision is expected pressures on the Company's operating performance in the near term, owing to COVID-19 led demand-side pressures as well as disruptions in operations following the domestic lockdowns.

Shares of NAHAR INDUSTRIAL ENTERPRISES LTD. was last trading in BSE at Rs.21.65 as compared to the previous close of Rs. 20.7. The total number of shares traded during the day was 1000 in over 23 trades.

The stock hit an intraday high of Rs. 22.9 and intraday low of 20.05. The net turnover during the day was Rs. 21378.

Source : Equity Bulls

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