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The latest announcement is out from Indo Rama Synthetics (India) Limited ( (IN:INDORAMA) ).
India Ratings and Research, part of the Fitch Group, has revised the outlook on Indo Rama Synthetics (India) Limited’s existing bank loan facilities totaling INR 16,200 million to Stable from Negative, while affirming the ratings at IND A- for long-term and IND A2+ for short-term instruments. In addition, a new INR 1,000 million bank loan facility has been assigned the same IND A-/Stable and IND A2+ ratings, signaling an improvement in the agency’s view of the company’s credit profile and funding stability, which may support Indo Rama’s access to bank financing and bolster confidence among lenders and other financial stakeholders.
More about Indo Rama Synthetics (India) Limited
Indo Rama Synthetics (India) Limited is an Indian manufacturer in the synthetic textiles and polyester segment, operating a manufacturing complex in Nagpur, Maharashtra, with corporate offices in Gurugram, Haryana. The company is listed on both the National Stock Exchange of India and BSE, reflecting its presence in the domestic capital markets and its role as an established player in the man‑made fibre and related products space.
Average Trading Volume: 18,818
Technical Sentiment Signal: Sell
Current Market Cap: 10.69B INR
Learn more about INDORAMA stock on TipRanks’ Stock Analysis page.