Linc Pen & Plastics gains after credit rating upgrade

Linc Pen & Plastics gained 2.73% to Rs 190 at 12:15 IST on BSE, after a rating agency upgraded the company's credit rating on the bank facilities.

The announcement was made after market hours yesterday, 18 December 2014.

Meanwhile, the BSE Sensex was up 280.39 points, or 1.03%, to 27,406.96

On BSE, so far 29,988 shares were traded in the counter as against an average daily volume of 62,394 shares in the past one quarter.

The stock hit a high of Rs 196.70 and a low of Rs 188.65 so far during the day. The stock had scaled a record high of Rs 219.40 on 4 December 2014. The stock had hit a 52-week low of Rs 39 on 27 January 2014.

The stock had outperformed the market over the past one month till 18 December 2014, rising 3.7% compared with 3.68% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 30.94% as against Sensex's 0.05% rise.

The small-cap company has an equity capital of Rs 14.79 crore. Face value per share is Rs 10.

Linc Pen & Plastics said that CRISIL has upgraded its credit rating on the bank facilities of the company. CRISIL upgraded its Long-Term Rating to CRISIL A/Stable from CRISIL A-/Stable. It also upgraded its short-term rating to CRISIL A1 from CRISIL A2+.

Linc Pen & Plastics' net profit rose 28.4% to Rs 4.07 crore on 2.3% rise in net sales to Rs 81.86 crore in Q2 September 2014 over Q2 September 2013.

Linc Pen & Plastics is one of India's leading writing instrument brands.

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