BHEL down in the red
By
Research Desk
about 10 years ago
BHEL is down in the red today, figuring amongst the top losers on the BSE.
The stock has slipped almost 3% to Rs.134 levels after the company announced today morning that India Ratings and Research has downgraded its Long-Term Issuer rating on the company to ‘IND AA+' from ‘IND AAA'.
India Ratings and Research has said that the decline in Bhel's revenue, slowmoving projects in the company's order book, EBITDA margins turning negative and high debtors days led to downgrade of the company's ratings.