Firstsource Solutions rises 5% after rating upgrade by CARE

Business process outsourcing services provider Firstsource Solutions shares gained 4.6 percent intraday on April 2 after CARE upgraded rating on company's bank facilities.

The stock was quoting at Rs 50, up Rs 1.60, or 3.31 percent on the BSE, at 1158 hours IST.

On the basis of recent developments including operational and financial performance of the company for FY18 and 9MFY19, Rating Committee of CARE upgraded rating on long term bank facilities to A+:Stable from A:Stable.

It also revised rating on short term bank facilities to A1+ from A1 earlier. The long and short term bank facilities were worth Rs 147.50 crore.