B M Khaitan Group companies plunge on bourses after ratings downgrade

Rating agency India Ratings and Research (Ind-Ra) downgraded the company's long term credit rating with the negative outlook.

The share price of Eveready Industries India (EIIL) plunged by a fifth to close at Rs 116.85 on the BSE and Rs 117.2 on the National Stock Exchange (NSE).

This was a sequel to India Ratings & Research (Ind-Ra) having downgraded, a day earlier, the long-term credit assessment of the company to one of negative outlook. 

Another group company from the B M Khaitan stable, McLeod Russel, also dipped by 19.96 per cent to close at Rs 61.15 per share on the BSE and fell by 20 per cent on the NSE to finally close at Rs 61.00 apiece. McLeod