Ind-Ra affirms rating of Campus Activewear Ltd

India Ratings and Research (Ind-Ra) has affirmed Campus Activewear Limited's (CAL) Long-Term Issuer Rating at 'IND A+' with a Positive Outlook.

The Positive Outlook reflects a sustained premiumisation of the portfolio and strong volume growth in 9MFY23, resulting in a substantial increase in the revenue, and the likelihood of continued growth in FY24, while maintaining a strong credit profile. Moreover, after the initial public offering and listing in May 2022, the company's corporate governance and financial disclosures have improved.

Shares of Campus Activewear Limited was last trading in BSE at Rs. 338.75 as compared to the previous close of Rs. 369.10. The total number of shares traded during the day was 1818503 in over 16821 trades.

The stock hit an intraday high of Rs. 354.35 and intraday low of 335.30. The net turnover during the day was Rs. 631533675.00.

Source : Equity Bulls

Keywords

CampusActivewear INE278Y01022 Footwear RatingUpdate Outlook