Shakti Pumps hits 52-week low as CARE downgrades bank facilities

The outlook for the long-term rating of the company has been revised from 'Stable' to 'Negative'.

Shares of Shakti Pumps (India) (SPIL) hit a 52-week low of Rs 202, down 2 per cent on Monday, having declined 5 per cent in the past two trading days, on the BSE after Care Ratings downgraded the long-term rating of the bank facilities of the company with a negative outlook. The stock has fallen below its previous low of Rs 203 touched on November 18, 2019.

“The long-term rating outlook of SPIL has been revised from ‘Stable’ to ‘Negative’ on expectation that SPIL’s scale of operations and profitability are likely to be lower than that envisaged earlier on account of