India Ratings upgrades Sona BLW Precision Forgings to 'IND AA'/Stable, Limits Enhanced

India Ratings and Research (Ind-Ra) has upgraded Sona BLW Precision Forgings Limited's (SBPFL) Long-Term Issuer Rating to 'IND AA' from 'IND AA-'. The Outbok is Stable.

The upgrade reflects the company's improved business profile with a more diversified revenue base and increasing contribution from the powertrain agnostic segment, abng with a significant increase in its revenues as well as absolute EBITDA over FY21-1HFY22. The upgrade also reflects Ind-Ra's expectation that the company would be able to sustain the growth demonstrated over the medium term supported by a strong order book.

Shares of Sona BLW Precision Forgings Limited was last trading in BSE at Rs. 758.55 as compared to the previous close of Rs. 745.85. The total number of shares traded during the day was 115172 in over 5724 trades.

The stock hit an intraday high of Rs. 767.40 and intraday low of 745.00. The net turnover during the day was Rs. 87397113.00.

Source : Equity Bulls

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