KDDL rises on CRISIL rating upgrade for bank debt

Short-term bank loan facilities has been upgraded to CRISIL A3+ and long-term to CRISIL BBB/Stable

Shares of KDDL were up over 3% at Rs 315 on the Bombay Stock Exchange after the company announced that rating agency CRISIL has upgraded the company's short-term and long-term bank loan facilities.

The rating on the company's short-term bank loan facilities has been upgraded to CRISIL A3+ from CRISIL A3 earlier.

Further, the rating on the company's long-term bank loan facilities has been upgraded to CRISIL BBB/Stable from CRISIL BBB-/Stable earlier.

The stock opened at Rs 308 and touched a high of Rs 318. At 11:30am, nearly 6,000 shares were traded on the BSE.