Nitin Spinners soars 18% in 3-days as CARE revises rating outlook to stable

NSL is engaged in manufacturing of varieties of cotton yarn, knitted fabrics and finished woven fabrics. Yarn accounts for the majority of the revenue generated by the company

Shares of Nitin Spinners (NSL) hit a record high of Rs 183.60, rallying 12 per cent on the BSE in intra-day trade on Friday, after CARE rating upgraded long-term bank facilities of the company to stable from negative. The stock has moved up 18 per cent in  the past three days.

In past three months, the stock of textiles company zoomed 126 per cent, as compared to 9 per cent rise in the S&P BSE Sensex, ACE Equity data show. At 11:19 am; it was trading 11 per cent higher at Rs 182 on back of two-fold jump in