Cox & Kings hits lower circuit for 2nd straight day, tanks 57% in a month

Brickwork Ratings downgraded the credit rating of NCD issue which highlighted delays in debt reduction and an increase in receivables

Shares of Cox & Kings were locked in lower circuit for the second straight day, down 10 per cent at Rs 40 after Brickwork Ratings downgraded credit rating of the company's non convertible debenture issue which highlighted delays in debt reduction and increase in receivables. The rating agency retained its commercial paper rating.

The stock has tanked 57 per cent from the level of Rs 94 in the past month. In comparison, the S&P BSE Sensex was up 0.17 per cent during the period. The stock was trading at its all-time low level on the BSE and NSE.