Jamna Auto advances as ICRA revises outlook on long-term rating

Jamna Auto Industries gained 2.22% to Rs 69.05 after ratings agency ICRA revised outlook on the long-term rating from negative to stable.

ICRA reviewed the credit rating assigned to Jamna Auto Industries and reaffirmed the long-term rating at [ICRA] AA- and the short-term rating at [ICRA] A1+. Credit rating assigned to commercial paper is reaffirmed at [ICRA] A1+.

Jamna Auto Industries is the largest manufacturer of tapered leaf and parabolic springs for commercial vehicles in India. The company is fast expanding its presence in new-generation products like air suspension and lift axle.

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