CRISIL revises Indiabulls Housing Finance rating to AA [Stable outlook] from AA [Negative outlook]

The rating committee of CRISIL has upgraded Indiabulls Housing Finance Limited's outlook to Stable from Negative.

The long-term credit rating of Indiabulls Housing Finance Ltd has been reaffirmed at "CRISIL AA". The short-term credit rating has been reaffirmed at the highest rating of "CRISIL A1+".

CRISIL noted the following in revising the rating outlook to stable:

− Demonstrated fund raising
− Comfortable asset quality in retail segments and lower than expected rise in NPA levels
− Regularisation of collection efficiency to pre-COVID levels
− Strong capitalisation with healthy cover for asset-side risks
− Strong liquidity position

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.196.5 as compared to the previous close of Rs. 196.15. The total number of shares traded during the day was 1643785 in over 10130 trades.

The stock hit an intraday high of Rs. 201 and intraday low of 193.3. The net turnover during the day was Rs. 322204450.

Source : Equity Bulls

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