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Last Updated : Jun 14, 2019 01:39 PM IST | Source: Moneycontrol.com

PI Industries surges 3% after CRISIL reaffirms rating; hits record high

Rating agency CRISIL said it has reaffirmed its long-term rating at AA/Positive and short-term rating at A1+ in respect of the various banking facilities availed by the company.

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Shares of chemical manufacturing company PI Industries gained 3 percent to hit a record high of Rs 1,178 intraday on June 14 after CRISIL reaffirmed its rating on bank facilities.

The stock was one of biggest gainers in last six-month, added 37 percent. It was quoting at Rs 1,162, up Rs 19.05, or 1.67 percent on the BSE at 13:26 hours IST.

Rating agency CRISIL said it has reaffirmed its long-term rating at AA/Positive and short-term rating at A1+ in respect of the various banking facilities availed by the company.

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Total bank loan facilities of Rs Rs 500 crore (enhanced from Rs 430 crore) rated by the agency included cash credit & working capital demand loan, and letter of credit & bank guarantee.

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First Published on Jun 14, 2019 01:39 pm
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