Announced Fri, 19 Jun · 18:29 IST
Gravita India subsidiary Rashtriya Metal gets credit rating upgrade
GRAVITA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-1.0%1-day move
₹1728.00
prior close
₹1734.10
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.1+1.1+2.0+2.5-1.0-0.5-3.1-3.5-5.2-1.9+5.1+3.9——
Up moveDown movePending
AI summary
Gravita India informed exchanges that Infomerics Valuation and Rating has upgraded the credit ratings of its material subsidiary, Rashtriya Metal Industries Limited. The long-term bank loan facility of Rs 295 crore was upgraded to IVR AA with a stable outlook. The short-term rating was upgraded to IVR A1+. Both ratings were also removed from watch with positive implications.
Likely market impact
Positive for the group. Stronger credit profile of the subsidiary may lower borrowing costs and boost investor confidence in Gravita India.