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Nitco shines on getting rating reaffirmation from CARE for bank facilities

06 Mar 2012 Evaluate

Nitco is currently trading at Rs. 45.40, up by 0.50 points or 1.11% from its previous closing of Rs. 44.90 on the BSE.

The scrip opened at Rs. 44.00 and has touched a high and low of Rs. 45.40 and Rs. 43.55 respectively. So far 1948 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 71.30 on 03-May-2011 and a 52 week low of Rs. 31.55 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 49.50 and Rs. 44.05 respectively. The current market cap of the company is Rs. 146.86 crore.

The promoters holding in the company stood at 48.90% while Institutions and Non-Institutions held 17.64% and 33.46% respectively.

Credit rating CARE has reaffirmed BBB+ rating to Rs 648.43 crore long term bank facilities of Nitco. The rating agency has also reaffirmed A2 rating to Rs 633.07 crore short term bank facilities of the company.

The ratings continue to derive strength from the established track record of the company, strong brand name and wide distribution network. The ratings also take cognizance of sequential improvement in the operational performance during FY11 and 9mFY12 and successful completion of capital expenditure programme in FY11 (refers to the period April 1 to March 31).

Nitco is engaged in the manufacture of flooring tiles in India. Previously known as Nitco Tiles, the company is one of the largest manufacturers of flooring tiles in India.

Nitco Share Price

90.81 0.69 (0.77%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Kajaria Ceramics 1178.20
Somany Ceramics 441.15
Cera Sanitaryware 5332.20
Asian Granito India 75.34
Pokarna 928.60
View more..

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