CARE also retained its rating on company's non-convertible debentures worth Rs 525 crore at A- but outlook revised to negative from stable
Simplex Infrastructures shares plunged 6.5 percent intraday on June 12 after rating agency CARE revised its outlook on company's bank facilities to negative from stable.
It was quoting at Rs 127.25, down Rs 8.05, or 5.95 percent on the BSE at 1200 hours IST.
CARE retained its rating on the company's long term bank facilities worth Rs 2,624.40 crore at A- but revised outlook to negative from stable earlier.
Also, the rating for its long/short term bank facilities worth Rs 7,900 crore remained at A-/A2+ but outlook revised to negative from stable, the company said.CARE also retained its rating on the company's non-convertible debentures worth Rs 525 crore at A- but outlook revised to negative from stable.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.