JSW Steel shares gain after ICRA reaffirms long-term rating, but upgrades outlook from stable to positive

The rating agency also reaffirmed the company's short-term (bank facilities and commercial paper) to ICRA A+

March 10, 2021 / 12:31 PM IST
(Image: Reuters)

(Image: Reuters)

 
 
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JSW Steel share price gained over a percent intraday on March 10 after ICRA reaffirmed JSW Steel’s long-term (bank facilities and non-convertible debenture) rating at ICRA AA- but changed the outlook from stable to positive, the company informed boruses.

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The rating agency also reaffirmed the company's short-term (bank facilities and commercial paper) to ICRA A+, the company added.

The stock was trading at Rs 408.30, up Rs 7.05, or 1.76 percent, at 12:00 hours. It has touched an intraday high of Rs 410.75 and an intraday low of Rs 403.50.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company's book value per share has been improving for the last 2 years with FII/FPI or institutions increasing their shareholding.

Moneycontrol technical rating is neutral with moving averages being bullish and technical indicators being neutral.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Mar 10, 2021 12:31 pm

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