Ind-Ra assigns Emami Realty's proposed long-term loan and bank facilities ‘IND A-'; Outlook Stable; Stock hits upper circuit

5 Apr 2022 , 01:45 PM

India Ratings and Research Private Limited (Ind-Ra) has assigned and upgraded Credit Rating of Emami Realty Limited’s Long-Term Bank Facilities and long-term loan at IND A-/Stable (‘IND A-‘; Outlook Stable).

“Ind-Ra has taken a consolidated view of ERL and its subsidiaries while arriving at the rating. The ratings factor in ERL’s strong parentage and its linkages with the Emami Group including the tangible support extended by the latter,” company shared Ind-Ra rating rationale.

The company stock was bullish on Tuesday and at around 1.48 pm, Emami Realty was trading at Rs69.20 per piece up Rs3.25 or 4.93% (5% upper circuit) on the BSE.