CARE reaffirms credit rating on bank facilities of Precision Wires; Stock hits upper circuit

9 Feb 2022 , 09:40 AM

CARE Ratings Limited has reaffirmed the Credit Rating on total of Rs754.73cr bank facilities of Precision Wires India Limited. The rating on long-term bank facilities Rs79.73cr (Enhanced from Rs65.87cr) has been reaffirmed at CARE A; Positive.

The Outlook has been revised from stable.

The credit rating agency also reaffirmed CARE A1 rating on short-term bank facilities Rs675cr (Enhanced from Rs565cr).

At around 9.42 AM, Precision Wires India Ltd was trading at Rs112 per share up by Rs4.25 or 3.94% from its previous closing of Rs107.75 per share on the BSE.

The scrip opened at Rs108.75 and has touched a 5% upper circuit of Rs113 per share and low of Rs102.55 respectively.