DCW Limited Credit Ratings upgraded by India Ratings & Research

DCW Limited ("the Company" or "DCW"), a specialty chemicals company headquartered in Mumbai, today announced that leading credit rating agency, India Ratings & Research has upgraded and assigned ratings 'BBB+' indicating 'Stable' outlook for the Company.

Commenting on the rating, Mr. Vivek Jain, Managing Director, DCW Ltd. said, "The rating upgrade by the India Ratings and Research is a testament of DCW's improving financial and operating performance. The upgradation from BBB to BBB+, in such a challenging environment, is reflective of the confidence in the company's business model and execution capabilities. DCW's primary focus on Speciality Chemical, and continuous improvement in the capacity utilization, will enhance stakeholders' confidence in the company's ability to significantly scale-up operations in the future."

Shares of DCW LTD. was last trading in BSE at Rs.35.9 as compared to the previous close of Rs. 36.8. The total number of shares traded during the day was 468092 in over 2190 trades.

The stock hit an intraday high of Rs. 37.1 and intraday low of 34.25. The net turnover during the day was Rs. 16725681.

Source : Equity Bulls

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