Ruchira Papers rose 2.78% to Rs 68.50 at 15:15 IST on BSE after the company said that the credit rating agency upgraded credit rating assigned to long term facilities and short term facilities of the company.
The announcement was made after market hours yesterday, 23 June 2016.Meanwhile, the S&P BSE Sensex was off 604.37 points or 2.24% at 26,403.11. Global stocks slumped after results from the UK's referendum on its European Union (EU) membership, dubbed "Brexit", showed the country had voted to leave the trading bloc.
On BSE, so far 16,720 shares were traded in the counter, compared with an average volume of 21,106 shares in the past one quarter. The stock hit high of Rs 68.50 and low of Rs 63.85 so far during the day. The stock hit a record high of Rs 78.40 on 12 May 2016. The stock hit a 52-week high of Rs 27.40 on 24 June 2016. The stock had underperformed the market over the past one month till 23 June 2016, rising 1.91% compared with Sensex's 7.02% rise. The scrip had, however, outperformed the market in past one quarter, gaining 6.64% as against Sensex's 6.57% rise.
The small-cap company has equity capital of Rs 22.42 crore. Face value per share is Rs 10.
Ruchira Papers said that the credit rating of the company has been upgraded from CARE BBB- to CARE BBB assigned to long term facilities and from CARE BBB to CARE A3+ assigned to short term facilities of the company.
Ruchira Papers' net profit rose 10.1% to Rs 4.03 crore on 0.8% rise in net sales to Rs 89.68 crore in Q4 March 2016 over Q4 March 2015.
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Ruchira Papers is a paper manufacturing companu incorporated in 1980
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