Oudh Sugar Mills gains over 2% on rating upgrade
On the BSE, around 55,000 shares were traded on the counter so far as against the average daily volumes of 1.25 lakh shares in the past two quarter.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Oudh Sugar Mills advanced over 2 per cent intraday on Wednesday after the company informed bourses that Credit Analysis & Research (CARE) upgraded the rating of its long term bank facilities.
The scrip was trading 2.25 per cent up at Rs 113.75 around 11.25 am (IST). Oudh Sugar Mills stocks opened at Rs 112.60 and touched a high and low of Rs 116.50 and Rs 112.50, respectively, in trade so far. Benchmark BSE Sensex was trading 83.57 points, or 0.31 per cent, up at 26,679.
On the BSE, around 55,000 shares were traded on the counter so far as against the average daily volumes of 1.25 lakh shares in the past two quarter.
In a BSE filing, the company said, “Credit Analysis & Research (CARE) has upgraded and assigned CARE BBB- (Triple B Minus) rating to long-term bank facilities from banks so accepted by the company.”
For the quarter ended September 30, 2016, the company reported a net profit of Rs 18.63 crore against net loss of Rs 19.15 crore in the corresponding quarter last year. Topline of the company advanced 31.7 per cent year-on-year to Rs 330.29 crore during the quarter under review.
The scrip was trading 2.25 per cent up at Rs 113.75 around 11.25 am (IST). Oudh Sugar Mills stocks opened at Rs 112.60 and touched a high and low of Rs 116.50 and Rs 112.50, respectively, in trade so far. Benchmark BSE Sensex was trading 83.57 points, or 0.31 per cent, up at 26,679.
On the BSE, around 55,000 shares were traded on the counter so far as against the average daily volumes of 1.25 lakh shares in the past two quarter.
In a BSE filing, the company said, “Credit Analysis & Research (CARE) has upgraded and assigned CARE BBB- (Triple B Minus) rating to long-term bank facilities from banks so accepted by the company.”
For the quarter ended September 30, 2016, the company reported a net profit of Rs 18.63 crore against net loss of Rs 19.15 crore in the corresponding quarter last year. Topline of the company advanced 31.7 per cent year-on-year to Rs 330.29 crore during the quarter under review.
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