CARE Ratings upgrades credit rating of JMC Projects; Stock gains 2%

CARE Ratings Limited has upgraded the rating of Long Term Bank Facilities & NonConvertible Debentures (NCDs) of JMC Projects (India) Limited as CARE AA-; Stable from CARE A+; Stable.

Further, it has upgraded the rating of Short Term Bank Facilities of the Company as CARE A1+ from CARE A1, the company said in a regulatory filing on Friday.

At around 10.52 AM, JMC Projects (India) Ltd was trading at Rs105.75 per piece up by Rs2.05 or 1.98% from its previous closing of Rs103.70 per piece on the BSE.

The scrip opened at Rs104 and has touched a high and low of Rs106.20 and Rs104 respectively.

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( With inputs from indiainfoline)