India Ratings affirms Capacite Infraprojects at 'IND BB+' / Stable

India Ratings and Research (Ind-Ra) has affirmed Capacite Infraprojects Limited's (CIL) Long-Term Issuer Rating at 'IND BB+' while resolving the Rating Watch with Negative Implications. The Outlook is Stable.

Ind-Ra continues to take a consolidated view of CIL and its 100% subsidiary CIPL-PPSLYongnam Joint Venture Constructions Private Limited, along with its joint ventures and associates including a Maharashtra Housing and Area Development Authority (MHADA) project (together referred to as CIL), owing to the strong operational and strategic ties among them. The joint ventures and associates have been included in financials using the equity method of accounting.

Ind-Ra has resolved the Rating Watch with Negative Implications and affirmed the ratings in view of the tying up of a portion of the enhancements required in the working capital limits from State Bank of India (IND AAA/Stable), equity infusion of INR963 million in July 2023, and debtor recovery, which would support the company's liquidity position.

Shares of Capacit'e Infraprojects Limited was last trading in BSE at Rs. 197.65 as compared to the previous close of Rs. 202.05. The total number of shares traded during the day was 40714 in over 1282 trades.

The stock hit an intraday high of Rs. 206.40 and intraday low of 195.90. The net turnover during the day was Rs. 8124061.00.

Source : Equity Bulls

Keywords

CapaciteInfraprojects INE264T01014 RatingUpdate