ICRA upgrades rating of Indotech Transformers Limited

The Rating Committee of ICRA, after due consideration, has upgraded the long-term rating from [ICRA]BB (pronounced ICRA double B) to [ICRA]BB+ (pronounced ICRA double B plus) and a short-term rating from [ICRA]A4 (pronounced ICRA A four) to [ICRA]A4+ (pronounced ICRA A four plus) on the Rs 92.50 crore Lines of Credit of Indotech Transformers Limited.

ICRA has assigned a long-term rating of [ICRA]BB+ (pronounced ICRA double B plus) and a short-term rating of [ICRA]A4+ (pronounced ICRA A four plus) to the bank lines of Rs. 46.50 crore to the captioned bank lines. The Outlook on the long-term rating is revised from Stable to Positive.

The long-term Rating [ICRA]BB+ indicates moderate risk of default regarding timely servicing of financial obligations. The short-term Rating [ICRA]A4+ indicates minimal degree of safety regarding timely payment of financial obligations. Such instruments carry very high credit risk and are susceptible to default.

Shares of Indo Tech Transformers Limited was last trading in BSE at Rs. 219.70 as compared to the previous close of Rs. 216.95. The total number of shares traded during the day was 1245 in over 100 trades.

The stock hit an intraday high of Rs. 221.10 and intraday low of 214.40. The net turnover during the day was Rs. 272218.00.

Source : Equity Bulls

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IndoTechTransformers INE332H01014 RatingUpgrade