Oudh Sugar Mills gains as CARE upgrades rating of bank facilities

Oudh Sugar Mills rose 2.43% to Rs 113.95 at 10:41 IST on BSE after rating agency Credit Analysis & Research upgraded rating to the company's long term bank facilities.

The announcement was made after market hours yesterday, 3 January 2017.

Meanwhile, the S&P BSE Sensex was up 68.91 points or 0.26% at 26,712.15.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 64,327 shares in the past one quarter. The stock had hit a high of Rs 116.50 and a low of Rs 112.50 so far during the day.

The stock had hit a 52-week high of Rs 160.95 on 16 June 2016 and a 52-week low of Rs 33 on 12 February 2016. The stock had outperformed the market over the past one month till 3 January 2017, advancing 6.21% compared with the Sensex's 1.57% rise. The scrip had also outperformed the market over the past one quarter advancing 7.18% as against the Sensex's 5.67% fall.

The small-cap company has equity capital of Rs 11.56 crore. Face value per share is Rs 10.

Oudh Sugar Mills announced that rating agency Credit Analysis & Research (CARE) has upgraded and assigned CARE BBB- (Triple B Minus) rating to long-term bank facilities from banks so accepted by the company.

Oudh Sugar Mills reported net profit of Rs 18.63 crore in Q2 September 2016, as compared to net loss of Rs 19.15 crore in Q2 September 2015. Net sales advanced 31.7% to Rs 330.29 crore in Q2 September 2016 over Q2 September 2015.

Oudh Sugar Mills is engaged in sugar manufacturing. Its segments include sugar, distillery, co-generation and food processing.

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