ICRA Credit Rating for Rs. 145.00 crore Line of Credit of Automotive Axles Limited

Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration, has upgraded the long-term rating to [ICRA]AA- (pronounced ICRA double A minus) from [ICRA]A+ (pronounced ICRA A plus) and reaffirmed the short-term rating at [ICRA]A1+ (pronounced ICRA A one plus) for the bank facilities of Rs. 145.00 crore. The outlook on the long-term rating is Stable.

Shares of Automotive Axles Limited was last trading in BSE at Rs. 2317.15 as compared to the previous close of Rs. 2452.80. The total number of shares traded during the day was 5346 in over 950 trades.

The stock hit an intraday high of Rs. 2398.95 and intraday low of 2302.60. The net turnover during the day was Rs. 12472397.00.

Source : Equity Bulls

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AutomotiveAxles INE449A01011 RatingUpdate Upgrade