Jain Irrigation plunges 26% after India Ratings cut long time company score

Jain Irrigation Systems stocks crashed 26 percent intraday to hit a fifty-two-week low of Rs 20.2 on June 19 after India Ratings reduced its long-time issuer score. The stock comes quoting at Rs 21.10, down Rs 6. Three, or 22. Ninety-nine percent of BSE students are at 1314 hours IST. India Ratings and Research stated it had downgraded Jain Irrigation Systems’ Long-Term Issuer Rating to BBB from A while placing it on Rating Watch Negative (RWN). The downgrade displays deterioration in the liquidity profile of Jain Irrigation due to a delay in realizing its receivables from its micro-irrigation systems.

Jain Irrigation

(MIS) section, the rating agency said. The RWN reflects the hazard of delay within the business enterprise’s deleveraging plans or an additional growth in its working capital requirement, similarly worsening its liquidity function delivered. Overall, the stock fell 34 percent this week, regardless of the business enterprise’s rationalization of default in debt repayment. The company has no longer defaulted on any of its debt duties. Company is boom-orientated, income making, dividend-paying entity,” Jain Irrigation stated on June thirteen. It added that it has a debt: fairness ratio of 1:1.1 and a net worth of Rs 4,561 crore (inclusive of CCD).

The United States has warned the Indian authorities that any Indian company found promoting American merchandise or systems to Chinese company Huawei or its units might face punitive action. The message was conveyed through a letter sent to the Ministry of External Affairs (MEA) on May 27. It is assumed to be one of the many US attempts to mount pressure on India to take action against the Chinese organization.

According to an Economic Times record, the MEA has, on the flip, sought the presidency’s and regulatory groups’ opinion to apprehend the consequences of the USA regulations imposed on Indian companies. The External Affairs Ministry has approached the Department of Telecom (DoT), Niti Aayog, the Department of Commerce, the Ministry of Electronics and Information Technology, and the predominant clinical adviser for the identical. A senior government official stated co, consistent with the report that the MEA has raised subsequent inquiries to the authorities concerning the same –

To take a look at the allegation leveled using the US

The opportunity for the US to take movement in opposition to Indian corporations that supply US merchandise to Huawei Views at the guidelines furnished at the 5G security conference that was held in Prague last month
However, sources have found that the recommendations acquired at the Prague conference have been ‘fashioned are not a goal for unmarried organizations. Reading the paper online.

Watching 24-hour news sites is becoming more and more popular. This is because it is cheaper and you get more news. You can see what is happening in the world as it happens. You don’t have to wait until the next newspaper is released, like in the old days. Do you remember when the war on Afghanistan began, and we were able to watch the first invasion live on the news? That is how up-to-date things have gotten, and we have never been more in touch with the goings-on in the world than we are today.

However, it has become easier for people to get the best news on alternative news sites. This is because they are not biased. They are not affiliated with any political party and can choose their news and which articles they post. There is no agenda to their articles. Therefore, knowing some advantages of reading the news on alternative news sites is important.

Dorothy R. Ferry

Coffee trailblazer. Unapologetic student. Freelance communicator. Travel nerd. Music fan. Spoke at an international conference about donating magma for farmers. Had some great experience promoting saliva on the black market. Spent 2002-2009 lecturing about basketballs in Pensacola, FL. In 2009 I was writing about Magic 8-Balls in Miami, FL. Earned praised for my work importing crayon art in Hanford, CA. At the moment I'm managing sausage in West Palm Beach, FL.

Related Articles

Back to top button