CRISIL assigns rating on Vascon Engineers' bank facilities; Stock jumps 4%

22 Sep 2022 , 01:22 PM

CRISIL Ratings has assigned its ‘CRISIL BBB/Stable/CRISIL A3+’ ratings to the bank facilities of Vascon Engineers Limited (VEL).

The ratings reflect expectation of sustained improvement in the operating performance of VEL.

Further, CRISIL Ratings has considered the consolidated financial and business risk profile of VEL along with its subsidiaries. The consolidation is on account of the common management and business synergies among the group companies, the rating agency said.

At around 1:22 PM, Vascon Engineers Ltd is currently trading at Rs30.70 per sup by Rs1.3 or 4.42% from its previous closing of Rs29.40 per share on the BSE.

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