Cholamandalam Investment and Finance Company rose 3.79% to Rs 1,099 at 11:43 IST on BSE after the company said it got ratings upgrade for its debt instruments by India Ratings.
The announcement was made after market hours yesterday, 27 September 2017.Meanwhile, the S&P BSE Sensex was up 82.93 points, or 0.27% to 31,242.74.
On the BSE, 4,917 shares were traded in the counter so far, compared with average daily volumes of 9,349 shares in the past two weeks. The stock had hit a high of Rs 1,107.30 and a low of Rs 1,060.05 so far during the day.
Cholamandalam Investment and Finance Company said its non-convertible debentures (NCDs) for Rs 500 crore was upgraded to IND AA+ with stable outlook from INDAA. Its subordinate debt for Rs 1775 crore was upgraded to IND AA+ with stable outlook from INDAA. The company's perpetual debt instrument for Rs 100 crore was upgraded to IND AA with stable outlook from INDAA-.
On a consolidated basis, net profit of Cholamandalam Investment & Finance Company rose 24.06% to Rs 207.43 crore on 11.82% rise in total income to Rs 1246.92 crore in Q1 June 2017 over Q1 June 2016.
Cholamandalam Investment and Finance Company is a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, investment advisory services, stock broking and a variety of other financial services to customers.
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