Gayatri Projects share price hits 5% upper circuit after CARE upgrades rating

Stocks

The rating agency has upgraded long-term bank facilities rating of the company and has revised the rating to CARE B/Stable from CARE D with stable outlook.

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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Gayatri Projects share price jumped 5 percent intraday on January 20 after CARE upgraded long-term bank facilities rating of the company.

The rating agency has upgraded long-term bank facilities rating of the company and has revised the rating to CARE B/Stable from CARE D with a stable outlook.

The short-term bank facilities rating has been revised from CARE D to CARE A4.

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The revision in the rating assigned to the bank facilities of the Gayatri Projects is on account of regularisation of delays in debt servicing and subsequent improvement in liquidity. The ratings are constrained by leveraged capital structure, stable operating income with a decline in margins, moderate operating cycle, high exposure in group companies/subsidiaries in form of loans & advances and corporate guarantees.

The stock was trading at Rs 43.65, up Rs 1.90, or 4.55 percent at 11:51 hours. It has touched an intraday high of Rs 43.80 and an intraday low of Rs 41.55.

The scrip also witnessed a spurt in volume by more than 1.60 times and was trading with volumes of 230,822 shares, compared to its five day average of 74,978 shares, an increase of 207.85 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. The company has witnessed growth in net profit with an increasing profit margin (QoQ).

However, Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

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