CRISIL upgrades credit ratings of Kesoram Industries; Stock gains 1%

The ratings continue to reflect the weak financial risk profile, stretched liquidity and exposure to cyclicality in the cement industry.

Jun 16, 2021 09:06 IST India Infoline News Service

CRISIL Ratings has upgraded its rating on the optionally convertible debentures (OCDs) and non-convertible debentures (NCDs) of Kesoram Industries Limited to 'CRISIL B/Stable' from ‘CRISIL D’.

According to the rationale, the ratings continue to reflect the weak financial risk profile, stretched liquidity and exposure to cyclicality in the cement industry.

These weaknesses are partially offset by the established market position in the cement industry and the long track record of the company.

At around 9:45 AM, Kesoram Industries was trading at Rs87.20 per piece higher by 1.04% on Sensex.

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