ICRA revises rating outlook to 'Stable' from 'Negative', reaffirms long-term credit rating at AA

Indiabulls Housing Finance Limited [IBH] has received the rating rationale from the rating agency ICRA, a Moody's Investors Service Company, on September 30, 2021. The rating committee of ICRA has revised the Company's outlook to 'Stable' from 'Negative'.

The long-term credit rating of Indiabulls Housing Finance Ltd has been reaffirmed at "ICRA AA".

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

− Healthy financial profile with adequate capitalization
− Strengthened governance structure
− Strong liquidity position
− Limited slippages and healthy collections
− Adequate asset quality of the retail segment
− Sufficient provision to cushion any asset quality deterioration

Shares of INDIABULLS HOUSING FINANCE LIMITED was last trading in BSE at Rs. 231.6 as compared to the previous close of Rs. 228.55. The total number of shares traded during the day was 1353037 in over 11859 trades.

The stock hit an intraday high of Rs. 236.3 and intraday low of 229.05. The net turnover during the day was Rs. 315067809.

Source : Equity Bulls

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