/ IOC Hits 52-Week High After Receiving Upgraded Credit Rating From CRISIL ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 5 January 2017

Indian Oil Corporation, among India’s largest commercial enterprises, on Thursday received credit ratings from Credit Rating Agency, CRISIL.

CRISIL believes IOCL will continue to benefit over the medium term from GoI's initiatives to reduce under-recovery. The initiatives underline the criticality of the sector for GoI and its intention of maintaining IOCL's financial health. The two instruments from the IOC, Fund based limits and Non-convertible debentures have received AAA ratings.

Other three instruments, Proposed Short Term Bank Facility, Non-Fund Based Limit and Proposed Non-Fund based limits have received A+ rating. On this note, the stock was trading today at 52 week high of Rs 353.5. The stock is currently trading up by 2.33% at Rs 351.
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