ICRA updates on rating of Titan Company Ltd

The Rating Committee of ICRA, after due consideration, has reaffirmed the long term rating outstanding on the Rs. 3,500.00 crore fixed deposit programme of Titan company at [ICRA]AAA (pronounced ICRA triple A) and has assigned a long-term rating of [ICRA]AAA (pronounced ICRA triple A) to the captioned fixed deposit programme ("Rating") of Rs. 1,000.00 crore. The Outlook on the long-term rating is Stable.

The Rating Committee of ICRA, after due consideration, has also reaffirmed the long-term rating of [ICRA]AAA (pronounced ICRA triple A) and short-term rating of [ICRA]A1+ (pronounced ICRA A one plus) assigned earlier to the Rs. 1,700.00 crore bank facilities of Titain company. The outlook on the long-term rating is Stable.

The Rating Committee of ICRA, after due consideration, has also reaffirmed the short-term rating of [ICRA]A1+ (pronounced ICRA A one plus) assigned earlier to the Rs. 1,500.00 crore commercial paper programme of Titan company.

Shares of Titan Company Limited was last trading in BSE at Rs. 2640.40 as compared to the previous close of Rs. 2659.55. The total number of shares traded during the day was 32742 in over 2298 trades.

The stock hit an intraday high of Rs. 2679.30 and intraday low of 2620.05. The net turnover during the day was Rs. 86449585.00.

Source : Equity Bulls

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TitanCompany INE280A01028 RatingUpdate