Crisil has upgraded the credit rating of Hi Tech Pipes' bank facility. The company informed about the upgrade of credit rating on Saturday. The stock closed with a gain in the Diwali Muhurat trading held a day before. According to the Crisil report, the rating has been upgraded due to the company's better position in the market, effective working capital management and strong financial risk profile.

What information has been given regarding the rating?

According to the information given to the stock market, CRISIL has upgraded the long-term rating of the company's bank facility of Rs 239 crore issue size from CRISIL A minus stable to CRISIL A positive. Along with this, the short-term rating of the company's bank facility of Rs 201 crore has been upgraded from CRISIL A 2 plus to CRISIL A one. According to CRISIL, the company has good reach in the market, while with the help of diversified product portfolio, the risk is also limited as the slowdown in any one segment does not affect the entire business. The company's working capital management is very efficient and the financial risk profile is also very strong. Keeping all these signals in mind, the company's rating has been upgraded. How was the performance of the stock? On Friday, on the occasion of Diwali, the stock closed at 186.25 with a gain of 2.4 percent during Muhurat trading. The stock's lowest level of the year was 98 and the maximum level was 211. A year ago, the stock was close to the level of 100. That is, during this period, the stock has given a return of more than 80 percent to the investors.