KEI Industries gains on getting rating up-gradation from CARE

08 Jul 2015

KEI Industries is currently trading at Rs. 80.75, up by 1.70 points or 2.15% from its previous closing of Rs. 79.05 on the BSE.

The scrip opened at Rs. 79.20 and has touched a high and low of Rs. 81.45 and Rs. 77.60 respectively. So far 77645 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 89.10 on 15-Apr-2015 and a 52 week low of Rs. 26.65 on 08-Jul-2014.

Last one week high and low of the scrip stood at Rs. 81.45 and Rs. 69.50 respectively. The current market cap of the company is Rs. 602.45 crore.

The promoters holding in the company stood at 49.39% while Institutions and Non-Institutions held 1.41% and 49.20% respectively.

Credit rating agency, Credit Analysis & Research (CARE) has upgraded / revised the rating assigned to the Long Term Bank Facilities availed by KEI Industries from ‘BBB’ to ‘BBB+’. This rating is applicable to facilities having tenure of more than one year. Facilities with these ratings are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such facilities carry moderate credit risk.

The credit rating agency has upgraded / revised the rating assigned to the Medium Term Instrument i.e. Fixed Deposits scheme of the company from ‘BBB (FD)’ to ‘BBB+ (FD)’.

Further, the agency has reaffirmed the rating ‘A3+’ assigned to the Short Term Bank Facilities availed by the company. This rating is applicable to facilities having tenure up to one year. Facilities with this rating are considered to have moderate degree of safety regarding timely payment of financial obligations.

KEI industries incorporated in 1968, is engaged in manufacturing of high and low tension cables (EHT, HT and LT), control and instrumentation cables, house wires and stainless steel wires.

 

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KEI Industries Share Price

530.70 -5.65 (-1.05%) Nov 15, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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