ICRA revises the outlook of Action Construction Equipment to positive from stable for long term rating; Stock up ~2%

The credit rating agency reaffirmed A1+ short-term and commercial paper rating.

Oct 05, 2021 02:10 IST India Infoline News Service

ICRA Limited has revised the outlook of Action Construction Equipment Limited to positive from stable for long-term rating. The rating on long-term facilities of the company has been reaffirmed at ICRA AA- (Positive). Outlook revised from Stable to Positive.

On short-term facilities, the ICRA Al + rating has been reaffirmed. The credit rating agency also reaffirmed the rating on the Commercial Paper programme of the company at ICRA Al +.

At around 2.48 pm, Action Construction Equipment Ltd was trading at Rs271.10 per piece up by Rs4.85 or 1.82% from its previous closing of Rs266.25 per piece on the BSE.
The scrip opened at Rs265.70 and has touched a high and low of Rs274.95 and Rs264.80 respectively.

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