Sunflag Steel locked at 20% upper circuit despite CRISIL downgrade

Sunflag Steel locked at 20% upper circuit despite CRISIL downgrade

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Share price of Sunflag Iron and Steel Company locked at 20 percent upper circuit on September 11 despite rating downgraded from CRISIL.

The company has obtained revised credit rating for the credit facilities from CRISIL, wherein its long-term facilities downgraded to CRISIL A-/stable from CRISIL A/stable.

Also, its short-term facilities has downgraded to CRISIL A2+ from CRISIL A1.

This aforesaid credit rating shall remain valid till March 31, 2020.

There were pending buy orders of 36,838 shares, with no sellers available.

At 1428 hrs, Sunflag Iron and Steel Company was quoting at Rs 32.25, up Rs 5.35.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/sunflag-steel-locked-at-20-upper-circuit-despite-crisil-downgrade_12974621.html

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