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Aditya Birla Capital extends rally on credit ratings upgrade of arms

The stock rallied 8% to Rs 210, extending its 9% gain in past two trading sessions on the BSE on back of heavy volumes.

Aditya Birla Capital extends rally on credit ratings upgrade of arms
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SI Reporter Mumbai
Shares of Aditya Birla Capital rallied 8% to Rs 210, extending its two-session long rally of  9% after the company said the rating agency India Ratings and Research (Ind-Ra) has upgraded the long-term issuer rating of its subsidiaries - Aditya Birla Finance Limited (ABFL) and Aditya Birla Housing Finance Limited (ABHFL) – with a stable outlook.

The counter has seen huge activities with trading volumes surging more than three-fold today. A combined 18.51 million shares changed hands till 12:45 AM as compared to its two-week average of sub 6.1 million shares on the BSE and NSE.

Ind-Ra has