CARE revises credit rating of Shiva Texyarn; Stock ends ~8% higher

The rating on long-term bank facilities has been revised to CARE BBB; Stable.

Oct 18, 2021 03:10 IST India Infoline News Service

Shiva Cement
CARE Ratings Limited has revised the credit facilities (Rs221.41cr) availed by Shiva Texyarn Limited. The rating on long-term bank facilities Rs111.41cr has been revised to CARE BBB; Stable from CARE BBB-; Stable.

The rating on long/short-term bank facilities Rs70cr has been revised to CARE BBB; Stable / CARE A3+ from CARE BBB-; Stable / CARE A3. On short-term bank facilities, Rs40cr CARE A3+ rating has been revised from CARE A3.

Shiva Texyarn Ltd ended at Rs236.20 per piece up by Rs17.1 or 7.8% from its previous closing of Rs219.10 per piece on the BSE.
The scrip opened at Rs223.50 and touched a high and low of Rs241 and Rs220.90 respectively.

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