ICRA reaffirms A+ rating on Thangamayil Jewellery loans

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THANGAMAYL · price

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Price reaction · full curve 14 horizons · vs prior close

+0.6%1-day move

₹5859.00

prior close

₹5950.00

base price

After-mkt

timing

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AI summary

ICRA reaffirmed [ICRA]A+ (Stable) rating on Thangamayil Jewellery's Rs 95 crore Fixed Deposit Programme. Working capital facilities of Rs 1,412 crore also got [ICRA]A+ (Stable)/[ICRA]A1 reaffirmed, with fresh rating assigned for the enhanced amount. Facilities are spread across Axis, Federal, HDFC, ICICI, Kotak and Yes Bank.

Likely market impact

Stable outlook and strong credit ratings point to low default risk and continued easy access to bank funding for the jewellery chain.