'CRISIL A1' assigned to Commercial Paper of Prince Pipes and Fittings Limited

CRISIL Ratings has assigned its 'CRISIL A1' rating to the commercial paper programme of Prince Pipes and Fittings Limited (PPFL) while reaffirming its ratings on the bank loan facilities at 'CRISIL A/Positive/CRISIL A1'.

The ratings continue to reflect improving business risk profile marked by its market position in domestic plastic pipe industry supported by diverse product portfolio, geographical presence, and end-user industry, extensive experience of promoters, and a robust financial risk profile. These rating strengths are partially offset by presence in a highly competitive industry, moderate capacity utilization, susceptibility to volatility in raw material prices, and moderate working capital requirements.

Shares of Prince Pipes And Fittings Limited was last trading in BSE at Rs. 760.25 as compared to the previous close of Rs. 754.40. The total number of shares traded during the day was 28761 in over 2530 trades.

The stock hit an intraday high of Rs. 768.00 and intraday low of 757.00. The net turnover during the day was Rs. 21883212.00.

Source : Equity Bulls

Keywords

PrincePipesAndFittingsLimited INE689W01016 PRINCEPIPE Rating