 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
JBF Industries dipped 11% to Rs 199 on BSE in early morning trade, extending its Friday’s 13% fall, after the rating agencies downgraded the rating of the company on delays in servicing its debt obligations by JBF group. In past one week, the stock slipped 28% from Rs 278, against 0.48% rise in the S&P BSE Sensex.
“The rating of the company has been downgraded to “D” default rating by rating agencies predominantly due to delays by JBF group in servicing its debt obligations,” JBF Industries said in a regulatory filing.
JBF is a manufacturer of Polyester value chain products.
