JSW Steel shares gain after ICRA reaffirms long-term rating, but upgrades outlook from stable to positive

Stocks

The rating agency also reaffirmed the company’s short-term (bank facilities and commercial paper) to ICRA A+

(Image: Reuters)

(Image: Reuters)

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JSW Steel share price gained over a percent intraday on March 10 after ICRA reaffirmed JSW Steel’s long-term (bank facilities and non-convertible debenture) rating at ICRA AA- but changed the outlook from stable to positive, the company informed boruses.

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The rating agency also reaffirmed the company’s short-term (bank facilities and commercial paper) to ICRA A+, the company added.

The stock was trading at Rs 408.30, up Rs 7.05, or 1.76 percent, at 12:00 hours. It has touched an intraday high of Rs 410.75 and an intraday low of Rs 403.50.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company’s book value per share has been improving for the last 2 years with FII/FPI or institutions increasing their shareholding.

Moneycontrol technical rating is neutral with moving averages being bullish and technical indicators being neutral.

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