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Gujarat Gas gains 3% on rating upgrades from CRISIL

The share touched its 52-week high Rs 236.80 and 52-week low Rs 116 on 16 December, 2019 and 27 February, 2019, respectively.

December 27, 2019 / 09:58 AM IST
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Gujarat Gas share price added 3.5 percent in the early trade on December 27 after CRISIL upgraded the rating of long term rating of bank facilities.

The rating agency CRISIL has upgraded its rating on the long-term bank facilities of to CRISIL AA+/Stable from CRISIL AA/Positive.

The upgrade reflects CRISIL's expectations of an improvement in company's credit profile over the medium term, as per BSE press release.

Sustainable improvement in cash accruals is expected to improve company's financial risk profile notwithstanding the sizeable capital expenditure (capex) programme, it added.

CRISIL has combined the business and financial risk profiles of the company and its subsidiaries/associates to arrive at the ratings.

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At 09:30 hrs Gujarat Gas was quoting at Rs 228.70, up Rs 4.75, or 2.12 percent on the BSE.

The share touched its 52-week high Rs 236.80 and 52-week low Rs 116 on 16 December, 2019 and 27 February, 2019, respectively.

Currently, it is trading 3.42 percent below its 52-week high and 97.16 percent above its 52-week low.
Moneycontrol News
first published: Dec 27, 2019 09:58 am

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