MEP Infrastructure Developers tanked 10.55% to Rs 26.70 after credit rating agency Icra downgraded the non-fund based limits worth Rs 50 crore of the firm to 'A4+' from 'A3'.
Icra has also withdrawn its rating on the company after the downgrade.The downgrade in the rating of MEP Infrastructure Developers factors in the slower than anticipated progress in the six under-construction hybrid annuity mode (HAM) road portfolio with current progress lagging behind schedule.
MEP Infra made the announcement after market hours yesterday, 27 August 2019.
On BSE, 34,000 shares were traded in MEP Infrastructure Developers counter, compared to a 2-week average of 21,000 shares. The stock hit an intraday high of Rs 30.20 and an intraday low of Rs 26.
It hit a 52-week high of Rs 54.05 on 28 August 2018 and a 52-week low of Rs 24.90 on 23 August 2019.
MEP Infrastructure Developers is a toll management company. The firm operates a network of roads, highways, bridges and toll plazas.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app