Shree Cement Limited informed that CARE Ratings Limited has assigned a â€˜CARE AAAâ€™ rating to long-term bank facilities of the company worth Rs150 crore. It has given a Stable outlook on these facilities.
Further, CARE has reaffirmed the â€˜CARE AAAâ€™ rating on long-term bank facilities of the company worth Rs1,100 crore, with a Stable outlook.
Companyâ€™s short-term facilitiesâ€™ limit has been enhanced from Rs800 crore to Rs1,200 crore. The rating on these facilities has been reaffirmed at â€˜CARE A1+â€™.
CARE has also assigned a â€˜CARE A1+â€™ rating to the Commercial Paper programme worth Rs400 crore of company.
At around 2.19 PM, Shree Cement was trading at Rs21,109.85 per piece, up by 1.23% from its previous closing of Rs20,853.25 on the BSE. The scrip touched intraday high and low of Rs21,150 and Rs20,666.65 respectively.
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