ICRA-assigned Credit Rating for Rs. 50 crore Bank Facilities of Apollo Pipes Limited

The Rating Committee of ICRA, after due consideration, has assigned a long-term rating of [ICRA]A (pronounced ICRA A) and a short-term rating of [ICRA]A1 (pronounced ICRA A one) to the captioned line of credit ("Rating"). The Outlook on the long-term Rating is Stable. The long-term rating of [ICRA]A indicates adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. The short-term rating of [ICRA]A1 indicates very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

Shares of Apollo Pipes Ltd was last trading in BSE at Rs.1000 as compared to the previous close of Rs. 1001.65. The total number of shares traded during the day was 2980 in over 492 trades.

The stock hit an intraday high of Rs. 1019.7 and intraday low of 992.35. The net turnover during the day was Rs. 2985932.

Source : Equity Bulls

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