Rites receives reaffirmation of credit ratings from Infomerics; Stock up ~3%

3 Jan 2022 , 03:27 PM

Rites Limited has received a reaffirmed rating of IVR A1+ for Short Term Bank Facilities up to an amount of Rs1015cr from Infomerics Valuation and Rating Pvt. Ltd.

The credit rating agency has taken into account all the relevant recent developments including the operational and financial performance of the company for FY21,” the company shared the Infomerics statement in a filing on Saturday.

Towards close of trade on Monday, Rites Ltd was trading at Rs270.55 per piece up by Rs7.1 or 2.7% from its previous closing of Rs263.45 per piece on the BSE.