India's PG Electroplast gains on Crisil's rating upgrade

PG Electroplast

06/12/2024 05:48

** Shares of PG Electroplast  PGEL.NS  climb 4.4% to 810.50
rupees, set for sixth straight session of gains
    ** Ratings agency Crisil upgrades PGEL's long-term bank
facilities to 'A+' from "A" with a 'stable' outlook, co says
    ** Crisil also reaffirms short-term rating of 'A1' on the
consumer electronic components maker
    ** Rating upgrade factors in PGEL's improving business risk
profile, aided by healthy revenue share from products business
while sustaining a healthy market position in the plastic
moulding component business - Crisil
    ** Stock has more than tripled YTD, set for fifth straight
annual gain

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))