Dewan Housing Finance Corporation has moved higher by 8% to Rs 363 after housing finance company said that the rating agency have upgraded the credit rating of the company.
Credit Analysis & Research Limited (CARE) have up-graded the rating assigned to the long term bank facilities and other instruments/ securities of the company, Dewan Housing Finance said in a statement.
The credit rating of the company has been upgraded from CARE AA+ (Double A Plus) to CARE AAA (Triple A) assigned to long term bank facilities and non-convertible debenture issue.
Meanwhile, the company said that it has got shareholders approval to raise up to Rs 4,500 crore by issuing commercial papers on private placement basis.
The stock opened at Rs 335 and touched a high of Rs 367 on BSE. A combined 1.56 million shares already changed hands so far against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
Credit Analysis & Research Limited (CARE) have up-graded the rating assigned to the long term bank facilities and other instruments/ securities of the company, Dewan Housing Finance said in a statement.
The credit rating of the company has been upgraded from CARE AA+ (Double A Plus) to CARE AAA (Triple A) assigned to long term bank facilities and non-convertible debenture issue.
Meanwhile, the company said that it has got shareholders approval to raise up to Rs 4,500 crore by issuing commercial papers on private placement basis.
The stock opened at Rs 335 and touched a high of Rs 367 on BSE. A combined 1.56 million shares already changed hands so far against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
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