 "Welspun India spurts 10% on rating upgrades by India Ratings")
Shares of Welspun India (WIL) advanced 10 per cent to Rs 84.65 on the BSE in intra-day trade on Friday after rating agency India Ratings & Research, a Fitch Group firm, upgraded the long-term credit rating of the company from IND AA- to IND AA with a stable outlook. The stock of the textiles company was trading close to its 52-week high of Rs 87.60 touched on March 15.
The upgrade reflects WIL’s better-than-Ind-Ra-expected balance sheet deleveraging through a strong operational performance including capacity utilisations, sales and operating margins post the unlocking of economic activities, as well as, improved working
