Moodys downgrades rating of Oil India Ltd

Consequent to the downgrading of India's sovereign rating by Moody's Investor Service on 1st June 2020 from Baa2 negative to Baa3 negative, they have also downgraded the long-term issuer rating of Oil India Ltd (a Government Related Issuer) from Baa2 negative to Baa3 negative, consistent with the downgrade of the sovereign rating.

The Baseline Credit Assessment for OIL has been affirmed at baa3.

Shares of OIL INDIA LTD. was last trading in BSE at Rs.89.7 as compared to the previous close of Rs. 87.3. The total number of shares traded during the day was 108901 in over 1268 trades.

The stock hit an intraday high of Rs. 91.1 and intraday low of 89.15. The net turnover during the day was Rs. 9811760.

Source : Equity Bulls

Keywords