KNR Constructions gains 5% as CRISIL revises rating outlook to positive

Shares of KNR Constructions (KNRCL) rose 5 per cent to Rs 254.35 on the BSE in intra-day trade on Thursday after CRISIL Ratings revised its outlook on the long-term bank facilities of the company to 'Positive' from 'Stable' and reaffirmed the rating at 'CRISIL AA-'. The stock of the construction and engineering company had hit a 52-week high of Rs 260 on June 30, 2021.

The revision in outlook factors in expected improvement in scale of operations in KNRCL’s business risk profile with the sustenance of revenue growth of over 15 per cent annually in the medium term while maintaining its