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Vikram Solar shares jump over 9% following a credit rating upgrade by India Ratings.
Credit rating upgrade: India Ratings and Research upgraded Vikram Solar’s credit ratings for its bank facilities totalling ₹2,700 crore, raising the long-term rating from IND A Stable to IND A+ Stable and the short-term rating from IND A1 to IND A1+.
Share price reaction: Following the rating upgrade announcement, Vikram Solar’s share price climbed more than 9% in the trading session, reflecting positive market sentiment.
Stock performance: The shares rose to around ₹254.75 on the National Stock Exchange (NSE), with intraday gains of up to about 9.45% on the day of the rally.
Business context: Vikram Solar is one of India’s leading solar photovoltaic (PV) module manufacturers, and the rating upgrade signals improved creditworthiness and financial strength.
Quarterly results insight: In a previous quarter, the company reported a significant increase in profit after tax and growth in revenues, underlining its operational performance.
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