The rating agency revised the outlook on the company's long term bonds to stable from negative.
Moneycontrol News
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Moneycontrol News
Shares of Steel Authority of India (SAIL) fell about 2 percent after news of an explosion at the company's Bhilai plant in Chhattisgarh.
Nine people have died and several others injured have been injured in the incident, news agency ANI reports.
Stock hit an intraday low of Rs 61.75 on BSE, down as much as 4.3 percent from the previous close.
Shares of the company had risen about 2 percent in early trade after CARE Ratings revised the outlook on the company's long term bonds to stable from negative.
The rating agency retained the AA- rating on SAIL's long term bond programmes.
At 14:06 hrs Steel Authority of India was quoting at Rs 63.65 on BSE, down 1.32 percent from the previous close.
For more market news, click hereFirst Published on Oct 9, 2018 09:28 am