CARE Rating removes Credit Watch with Negative Implications of KRBL; Stock ends 6% higher

The company continues to have a robust business model with adequate internal accruals to drive growth objectives.

Sep 23, 2021 03:09 IST India Infoline News Service

KRBL Limited
CARE Rating Limited has removed ‘Credit Watch with Negative Implications’ and assigned CARE A 1 + Rating for the Commercial Paper Limits (Rs500cr) of KRBL Limited.

“We would like to reiterate that KRBL remains committed to maintaining the highest standards of probity and professional excellence and assures its investors/shareholders, of total and unflinching commitment. The company continues to have a robust business model with adequate internal accruals to drive growth objectives,” the company said in a filing on Wednesday.

KRBL Ltd ended at Rs289.15 per piece up by Rs16.25 or 5.95% from its previous closing of Rs272.90 per piece on the BSE.

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