ICRA revises Bank Facilities rating of GE Power India Limited

ICRA Limited (Credit rating agency) vide letter dated 20 December 2022, revised the Long-term rating for Line of Credit as [ICRA]A- from [ICRA]A, reaffirmed the outlook to Negative and short-term rating for Line of Credit as [ICRA]A2+ of the Company. The reason for such downward revision is significant cost pressures, one-time expenses due to accident at a project execution site which may be recovered partly through insurance proceeds and slow pace of project execution.

Shares of GE Power India Limited was last trading in BSE at Rs. 143.60 as compared to the previous close of Rs. 144.00. The total number of shares traded during the day was 4541 in over 378 trades.

The stock hit an intraday high of Rs. 145.30 and intraday low of 141.40. The net turnover during the day was Rs. 650610.00.

Source : Equity Bulls

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GEPowerIndia INE878A01011 RatingUpdate