ICRA-assigned Credit Rating for Rs. 500 crore Bank Facilities of Elecon Engineering Company Limited

The Rating Committee of ICRA, after due consideration, has assigned a long-term rating of [ICRA]A+ (pronounced ICRA A plus) and short-term rating of [ICRA]A1 (pronounced ICRA A one) to the captioned line of credit ("Rating"). The Outlook on the long-term Rating is Stable. The long-term rating of [ICRA]A+ indicates adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. The modifiers + (plus) or - (minus) may be appended to the rating symbols to indicate their relative position within the rating categories concerned. The short-term rating of [ICRA]A1 indicates very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

Shares of Elecon Engineering Company Limited was last trading in BSE at Rs. 259.45 as compared to the previous close of Rs. 245.55. The total number of shares traded during the day was 208863 in over 6366 trades.

The stock hit an intraday high of Rs. 262.00 and intraday low of 244.00. The net turnover during the day was Rs. 53156200.00.

Source : Equity Bulls

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EleconEngineeringCompany INE205B01023 RatingUpdate