ICRA reaffirms credit ratings of Deepak Nitrite Ltd

ICRA Limited has re-affirmed the longterm rating of Line of credit at [ICRA] AA- (pronounced ICRA double A minus) and Short Term rating at [ICRA] A1+ (pronounced ICRA A one plus) assigned to the fund based limits and non-fund based limits of Deepak Nitrite Limited (DNL).The outlook on the long-term rating has been revised from Stable to Positive.

ICRA has also re-affirmed the rating at [ICRA] A1+ (pronounced ICRA A one plus) assigned to the Commercial Paper programme of DNL.

Further, ICRA Limited has upgraded long term rating from [ICRA] A- (pronounced ICRA A minus) to [ICRA] A (pronounced ICRA A) and the short-term rating from [ICRA] A2+ (pronounced ICRA A two plus) to [ICRA] A1 (pronounced ICRA A one) assigned to the bank facilities of Deepak Phenolics Limited, wholly owned subsidiary of DNL. The outlook on the long-term rating is Stable.

Shares of DEEPAK NITRITE LTD. was last trading in BSE at Rs.498.3 as compared to the previous close of Rs. 464.8. The total number of shares traded during the day was 71695 in over 4217 trades.

The stock hit an intraday high of Rs. 500 and intraday low of 468.9. The net turnover during the day was Rs. 35138856.

Source : Equity Bulls

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