Asian Granito incorporates new subsidiary Amazoone Ceramics; Stock down 1%

The company also informed that ICRA has upgraded its long-term credit rating.

Oct 28, 2021 01:10 IST India Infoline News Service

Asian Granito India Limited informed the exchanges that its Material Subsidiary Company, Amazone Ceramics Limited has incorporated its Subsidiary Company named Gresart Ceramica Private Limited on October 26, 2021.

“This newly incorporated company will be a step-down subsidiary of our company,” the company said in a filing on Wednesday.

“Gresart Ceramica is incorporated with an object to undertake the business activities pertaining to Ceramic Industry,” it added.

The company also said in separate filing that ICRA Limited, on October 27, 2021, has upgraded the long term rating to ICRA A+ from ICRA A and has reaffirmed the short term rating at ICRA A1 assigned to the Rs254.11cr for the Bank facilities of Asian Granito. The Outlook on the long-term rating has been reaffirmed to Stable.

At around 1.10 pm, Asian Granito India Ltd was trading at Rs135.90 per piece down by Rs1.3 or 0.95% from its previous closing of Rs137.20 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity