Ind Ra affirms Sandhar Technologies rating at 'IND AA-' with Stable outlook

27 Oct 2022 , 02:44 PM

India Ratings and Research (Ind-Ra) has affirmed Sandhar Technologies Limited’s (STL) Long-Term Issuer Rating at ‘IND AA-’. The Outlook is Stable.

Further, the rating of commercial papers worth Rs80 crore also affirmed at IND A1+.

As per the rating rationale report, Ind-Ra has taken a consolidated view of STL and its subsidiaries, while arriving at the ratings as all companies operate in similar businesses and STL has a strong operational and management control over them.

The company’s joint ventures (JVs) have been considered according to Ind-AS. STL also supports these entities by extending loans and advances, and corporate guarantees for the loans extended to some of these entities.

At around 2:43 PM, Sandhar Technologies Limited is currently trading at Rs222.05 per share up by Rs3.85 or 1.76% from its previous closing of Rs218.20 per share on the BSE.

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