 "JBF Industries hit fresh 52-week low; stock tanks 45% in two weeks")
JBF Industries hit a fresh 52-week low of Rs 143, down 19%, extending its over 25% fall on BSE, after the rating agencies downgraded the rating of the company on delays in servicing its debt obligations by JBF group.
In past two weeks, the stock slipped 47% from Rs 269, as against 1.4% decline 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 on July 28, 2017, said in a regulatory filing.
In past two weeks, the stock slipped 47% from Rs 269, as against 1.4% decline 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 on July 28, 2017, said in a regulatory filing.
