Profit Sheets

MTAR Technologies rallies 11%; CRISIL upgraded the company ratings

October 8, 2021 02:14 PM

MTAR Technologies announced that rating agency CRISIL has upgraded the credit rating on the company's long-term bank facilities to A-/Stable from BBB+/Positive

Shares of MTAR Technologies hit an all-time high of Rs 1,638.85 as they rallied 11 per cent on the BSE in Friday’s intra-day trade on the back of heavy volumes. The stock surpassed its previous high of Rs 1,562 touched on July 16, 2021. MTAR Technologies had made its stock market debut on March 15, 2021. With today’s surge, the stock was trading 185 per cent higher against its issue price of Rs 575 per share.

At 01:25 pm, it was up 9 per cent at Rs 1,615, as compared to a 0.57 per cent rise in the S&P BSE Sensex. The trading volumes on the counter jumped three-fold with a combined 1.2 million equity shares having changed hands on the NSE and BSE so far.

On Tuesday, October 5, 2021, MTAR Technologies announced that rating agency CRISIL has upgraded the credit rating on the company’s long-term bank facilities to A-/Stable from BBB+/Positive, and short-term bank facilities to A2+ from A2.

Also Read: KRChoksey picks these 6 stocks for an upside of 6-33%

Ratings continue to reflect the healthy business risk profile of MTAR marked by a strong order book, long-standing relationship with customers, strong export diversity and healthy operating profitability.

The ratings also benefit from robust financial profile bolstered by the recent IPO with healthy accruals and debt protection metrics. These strengths are partially offset by large working capital requirement, customer concentration risk and susceptibility to risks inherent in a tender-based business, CRISIL said.

MTAR Technologies is one of the leading precision engineering solutions companies engaged in the manufacture of mission-critical precision components with close tolerances (5- l0 microns), and in critical assemblies, to serve projects of high national importance, through their precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured.

The company has been serving customers in the nuclear sector including the Nuclear power Corporation of India (NPCIL), Indian Space Research Organization (ISRO) and the Defence Research and Development Organization (DRDO) and has supplied a variety of mission-critical products.

Leave a comment

Your email address will not be published. Required fields are marked *

Market Live Updates


Intraday Tips
Stock Name Open Price Trend Details
Reliance 1930.10 Buy  Click Here
Asian Paints 2577.00 Buy  Click Here
HDFC 2448.00 Buy  Click Here
HDFCAMC 2790.00 Buy  Click Here
TCS 3120.00 Buy  Click Here


NSE Top Gainers/Losers
COMPANY LTP %CHNG VOLUME
UPL 711.65 1.93 39,64,616
BPCL 385.80 1.83 86,26,323
IOC 122.30 1.37 97,94,636
ONGC 145.80 1.25 1,05,64,391
LT 1,802.00 0.72 35,96,490
COMPANY LTP %CHNG VOLUME
POWERGRID 206.10 -3.92
3,55,14,487
RELIANCE
2,413.80
-2.78 87,69,773
TECHM 1,593.00 -2.25 23,81,735
ASIANPAINT
3,109.10
-2.25 12,03,061
KOTAKBANK 1,921.00 -2.20 34,64,308