Atul gains as CARE assigns higher rating to long-term loans

Atul rose 1.02% to Rs 1,363 at 12:15 IST on BSE after Credit Rating & Research revised higher rating assigned to the long-term facilities of the company.

The company made the announcement during market hours today, 19 November 2014.

Meanwhile, the S&P BSE Sensex was up 24.48 points or 0.09% at 28,187.77.

On BSE, so far 1,097 shares were traded in the counter as against average daily volume of 19,942 shares in the past one quarter.

The stock hit a high of Rs 1,373.95 and a low of Rs 1,358.10 so far during the day. The stock had hit a record high of Rs 1495 on 22 September 2014. The stock had hit a 52-week low of Rs 385 on 21 November 2013.

The stock had underperformed the market over the past one month till 18 November 2014, rising 4.82% compared with the Sensex's 7.87% rise. The scrip had, however, outperformed the market in past one quarter, jumping 14.22% as against Sensex's 6.72% rise.

The mid-cap firm has an equity capital of Rs 29.66 crore. Face value per share is Rs 10.

Atul said Indian rating agency, Credit Rating & Research (CARE) has revised rating from 'CARE AA' to 'CARE AA+' assigned to the long-term facilities (borrowings for more than one year) of the company. It has reaffirmed the rating 'CARE A1+' to the short term facilities (borrowings up to one year) of the company and has reaffirmed the rating 'CARE A1+' to the Commercial Paper(CP) issue of the company.

Atul's net profit rose 6.4% to Rs 59.07 crore on 12.8% rise in revenue to Rs 670.97 crore in Q2 September 2014 over Q2 September 2013.

Atul is an integrated chemical company serving about 4,000 customers belonging to 27 industries across the world.

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