ICRA reaffirms credit rating of Transport Corporation of India; Stock down ~5%

31 Oct 2022 , 11:21 AM

Transport Corporation of India Ltd has informed that Credit Rating Agency ICRA Ltd has reviewed the credit rating in respect of Commercial Paper Programme of the company.

According to the rating rationale report, the Rating Committee of ICRA, after due consideration has reaffirmed the short-term Rating at [ICRA]A1+.

The rating agency said, “Instruments with [ICRA]A1+ rating are considered to have very strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk.”

On Monday early morning trade, Transport Corporation of India Ltd is currently trading at Rs714.70 per share down by Rs36.5 or 4.86% from its previous closing of Rs751.20 per share on the BSE.

The scrip opened at Rs735 per share and has touched a high and low of Rs735.80 per share and Rs710.05 per share respectively so far today. The current market cap of the company is Rs5,823.42 crore.

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