New Delhi: Shares of Indiabulls Housing Finance rallied nearly 6 percent on Thursday after rating agency Crisil said the company has aggregate liquidity to cover its debt repayment obligations till September 2020.
Indiabulls Housing Finance (IBHFL) stock gained 5.44 percent to trade at Rs 182.30 on the BSE.
On similar lines, the scrip was trading up 5.95 percent at Rs 183.35 on the NSE.
Crisil noted that IBHFL continues to maintain strong liquidity with cash and cash equivalents at around 20 percent of total assets as of 10 October 2019.
It has aggregate liquidity of more than Rs 18,500 crore as on 10 October 2019, which provides around 100 percent cover over the company's debt repayments till September 2020, Indiabulls Housing Finance said in a late evening BSE filing on Wednesday.
"The rating committee of CRISIL has reaffirmed the long-term rating of
Indiabulls Housing Finance Limited at CRISIL AA+. Short-term rating has been reaffirmed at CRISIL A1+," IBHFL said in the filing.
There seem to be signs of improvement in the first fortnight of October 2019 with IBHFL having received sanctions to raise Rs 5,200 crore via term loans, working capital lines, commercial papers and securitization lines, it added.
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Updated Date: Oct 17, 2019 12:50:48 IST