Mirza said CRISIL downgraded company's long-term rating to 'A-' from 'A' and changed outlook to negative from stable.
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Shares of leather footwear Mirza International rallied more than 3 percent intraday on June 20 despite Crisil downgraded company's long term rating.
The stock rallied 16 percent in last one month. It was quoting at Rs 60.95, up Rs 1.70, or 2.87 percent on the BSE at 1426 hours IST.
Mirza said CRISIL downgraded company's long-term rating to 'A-' from 'A' and changed the outlook to negative from stable.
The agency also downgraded short term rating from A1 to A2+.
However, other rating agency ICRA retained its long term rating at A- (stable) and short term rating at A2+.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.First Published on Jun 20, 2019 03:21 pm
