CRISIL downgrades rating on long-term bank facilities of BHEL

CRISIL has downgraded the rating on the long-term bank facilities of the company from 'CRISIL AA/Negative' to "CRISIL AA-/Negative'. The rating on the short-term facilities has been reaffirmed at 'CRISIL Al+'.

The rating downgrade reflects weakening of the business and financial risk profile of BHEL, owing to significantly weaker-than-expected operating performance in fiscal 2021, and operating losses reported for the second consecutive year. The 'Negative' outlook factors in the likelihood that profitability may remain under pressure in fiscal 2022, amidst the ongoing pandemic, further weakening the credit risk profile.

Shares of BHARAT HEAVY ELECTRICALS LTD. was last trading in BSE at Rs.64.3 as compared to the previous close of Rs. 65.5. The total number of shares traded during the day was 8742374 in over 41267 trades.

The stock hit an intraday high of Rs. 67.5 and intraday low of 60.65. The net turnover during the day was Rs. 558336919.

Source : Equity Bulls

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