Penny Stock Under Rs 30: CRISIL Assigns Ratings to Food Trade Organisation's Rs 1,250 Crore Bank Facilities
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The company has a market cap of over Rs 1,100 crore. The stock price has declined by 2.28 per cent in last 1 week.
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On Monday, shares of HMA Agro Industries Ltd fell 3.20 per cent to Rs 23.56 per share from its previous closing of Rs 24.34 per share. The stock’s 52-week high is Rs 38 per share and its 52-week low is Rs 23.50 per share. The stock also rose about 2.67 per cent from the previous close to hit its Intraday high of Rs 24.99 per share. As of 12:23 IST, the shares were trading at Rs 23.56.
Agra-based HMA Agro Industries Ltd, a Government of India-recognised Five Star Export House, has announced that CRISIL Ltd has assigned investment-grade credit ratings to the company’s Bank loan facilities totaling Rs 1,250 crore.
CRISIL assigned a long-term rating of ‘CRISIL BBB+’ with a Stable outlook and a short-term rating of ‘CRISIL A2’. The Stable outlook reflects the rating agency’s current opinion on the company’s ability to meet its financial obligations in a timely manner. The ratings cover a broad range of credit instruments including Export Packing Credit, fund-based facilities and non-fund-based limits.
The total rated bank facilities of Rs 1,250 crore are distributed across several financial institutions and proposed limits. State Bank of India has facilities of Rs 510 crore under Export Packing Credit, Rs 20 crore under fund-based limits and Rs 19 crore under non-fund-based limits. YES Bank Ltd has Rs 350 crore under Export Packing Credit, while HDFC Bank Ltd has Rs 160 crore under Export Packing Credit. Canara Bank has Rs 70 crore under Export Packing Credit. Additionally, proposed fund-based bank limits amount to Rs 121 crore.
The rating assignment provides HMA Agro Industries Ltd with a formal credit profile as it manages its substantial banking facilities. According to the rating agreement, the assigned ratings will remain under continuous surveillance by CRISIL throughout the life of these facilities. The company, led by Chairman and Whole-time Director Gulzar Ahmad, disclosed the development in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.
Headquartered in Agra, Uttar Pradesh, HMA Agro Industries Ltd is a prominent export-oriented company. The firm is listed on both the Bombay Stock Exchange (Scrip Code: 543929) and the National Stock Exchange of India (Symbol: HMAAGRO). As a recognized Five Star Export House, the company maintains a strong international trade presence supported by a wide network of banking partners.
The company has a market cap of over Rs 1,100 crore. The stock price has declined by 2.28 per cent in last 1 week. The stock is currently trading about 0.26 per cent above its 52-week low of Rs 23.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.