Tata Metaliks gains on ratings upgradation from ICRA
ICRA, a credit rating agency, has upgraded the ratings of the Rs 166 crore term loan facilities, Rs 100 crore non convertible debenture (NCD) and Rs 150 crore fund based bank facilities of Tata Metaliks (TML) from LA- to LA. The outlook on the rating is stable.
The scrip is currently trading at Rs. 145.10, up by 1 points or 0.69% from its previous closing of Rs. 144.10 on the BSE.
The stock opened at Rs. 149 and has touched a high and low of Rs. 149 and Rs. 144.05, respectively. So far 13,179 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 167 on 26-Apr-2010 and a 52 week low of Rs. 79.70 on 19-Aug-2009.
Last one week high and low of the scrip stood at Rs. 149 and Rs. 140, respectively. The current market cap of the company is Rs. 367.31 crore.
The promoters holding in the company stood at 50.04% while Institutions and Non-Institutions held 3.56% and 46.40%, respectively. The rating agency has also upgraded the ratings of the Rs 650 crore short term non fund based bank facilities and the Rs 100 crore commercial paper (CP) programme of TML from ‘A2+’ to ‘A1′.
Tata Metaliks is engaged in manufacturing of pig iron, casting, iron ore fines, coke breeze and limestone.
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