 "stock market, fall, divestment, company, firm")
Shares of Jain Irrigation Systems (JISL) tanked 22 per cent to Rs 21.25 on the National Stock Exchange (NSE) on Wednesday after rating agency India Ratings and Research (Ind-Ra) downgraded the company’s long-term issuer rating to ‘IND BBB’ from IND A-“ with negative outlook.
The stock was trading at its lowest level since February 2, 2005. The trading volumes on the counter more-than-doubled with a combined 53 million shares changing hands on the NSE and BSE till 10:51 am.
The rating agency said the downgrade reflects deterioration in the liquidity profile of JISL on account of a delay
The stock was trading at its lowest level since February 2, 2005. The trading volumes on the counter more-than-doubled with a combined 53 million shares changing hands on the NSE and BSE till 10:51 am.
The rating agency said the downgrade reflects deterioration in the liquidity profile of JISL on account of a delay
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