CARE Ratings reaffirmed Ahluwalia Contracts' credit rating to ‘CARE A/Stable'; stock ends ~2% higher

23 Mar 2022 , 04:14 PM

Ahluwalia Contracts informed the investors that CARE Rating Limited has reaffirmed its ratings for the financial year 2020-21 Audited and Nine Months ended un-audited for the FY2021-22.

The rating agency has assigned a CARE A+ rating to the company’s long-term bank facilities worth Rs85 crore. It has given a stable outlook for the same.

The company’s long-term and short-term facilities’ credit rating was reaffirmed at CARE A+ and CARE A1 respectively. While the outlook remains stable for both facilities worth Rs1,415 crore.

Ahluwalia Contracts ended at Rs407 up by Rs6.45 or 1.61% from its previous closing of Rs400.55 on the BSE. Its scrip touched day’s high and low of Rs416.45 and Rs401.65 respectively.