ICRA downgrades rating of The South India Paper Mills Limited

ICRA has downgraded the long term rating to [ICRA] BBB (pronounced ICRA triple B) from [ICRA] BBB+(pronounced ICRA triple B plus) & short term rating to [ICRA]A3+ (pronounced ICRA A three plus) from [ICRA]A2 (pronounced ICRA A two) for the Rs 250 crore bank facilities of the Company with negative outlook (from stable).

The outlook on the long term rating is revised to Negative from stable.

Shares of SOUTH INDIA PAPER MILLS LTD. was last trading in BSE at Rs. 117.90 as compared to the previous close of Rs. 113.50. The total number of shares traded during the day was 2362 in over 31 trades.

The stock hit an intraday high of Rs. 118.70 and intraday low of 114.00. The net turnover during the day was Rs. 273655.00.

Source : Equity Bulls

Keywords

SOUTHINDIAPAPERMILLS INE088G01014 RatingRevision Downgrade