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Electrotherm shines on getting rating reaffirmation from CARE for bank facilities

19 Aug 2011 Evaluate

Electrotherm India is currently trading at Rs 112.00, up by 1.00 points or 0.90% from its previous closing of Rs 111.00 on the BSE.

The scrip opened at Rs 109.00 and has touched a high and low of Rs 114.70 and Rs 109.00 respectively. So far 2497 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 349.80 on 20-Sep-2010 and a 52 week low of Rs 107.50 on 18-Aug-2011.

Last one week high and low of the scrip stood at Rs 128.00 and Rs 107.50 respectively. The current market cap of the company is Rs 127.39 crore.

The promoters holding in the company stood at 32.83% while Institutions and Non-Institutions held 12.30% and 54.87% respectively.

Credit rating agency, CARE has reaffirmed rating of Rs 1128.40 crore long term bank facilities of Electrotherm (India) to ‘BB’ from ‘BBB’. The rating agency has also reaffirmed rating of Rs 643.90 crore short term bank facilities of the company to ‘A4’ from ‘A3’.

The revision in the ratings takes into account the deterioration in the company’s financial risk profile and liquidity position owing to debt funded capex with no commensurate returns and failure to infuse equity as envisaged.

Electrotherm India established itself as a market leader in the induction of melting furnaces for the steel manufacturing in India and has further diversified into the steel manufacturing and electric vehicles business.

Electrotherm India Share Price

744.95 20.95 (2.89%)
17-Apr-2026 16:59 View Price Chart
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