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Megastar Foods Ltd. ( (IN:MEGASTAR) ) has issued an update.
Megastar Foods Limited has announced that CARE Ratings has upgraded the company’s long-term bank facility rating to CARE BBB- with a Stable outlook from CARE BB+ with a Stable outlook, reflecting an improvement in the company’s credit profile. CARE has also assigned ratings of CARE BBB-; Stable/CARE A3 to additional long-term/short-term bank facilities of ₹6.71 crore and upgraded similar facilities totaling ₹173 crore, even as that facility amount was reduced from ₹183 crore, signaling enhanced lender confidence and potentially better borrowing terms for the company.
More about Megastar Foods Ltd.
Megastar Foods Limited is an Indian food processing company based in Chandigarh, with manufacturing facilities in Rupnagar, Punjab. The company operates in the food products sector, supplying processed food ingredients and related products to industrial and institutional customers, with a focus on organized manufacturing and distribution within India.
Average Trading Volume: 2,580
Technical Sentiment Signal: Sell
Current Market Cap: 2.68B INR
See more insights into MEGASTAR stock on TipRanks’ Stock Analysis page.