Tata Consumer Products share rises 3% as ICRA upgrades financial ratings

Tata Consumer Products share price rose almost 3% on Friday after ratings firm ICRA upgraded the rating for long-term financial instruments of the company worth Rs 350 crore to AAA with a stable outlook from AA-plus.

ICRA reaffirmed the rating for short-term instruments worth Rs 715 crore at A1-plus and also upgraded the company's fund-based working capital facilities at AAA with a stable outlook from AA-plus earlier.

With a trend reversal, the stock price of Tata Consumer opened higher at Rs 594 as against its previous close of Rs 589.65 today. The stock gained over 2.91% to hit the day's high of Rs 606.80 on BSE. Tata Consumer stock also hit an intraday low of Rs 591.70 during the session.

Tata Consumer stock has gained after 3 days of consecutive fall.

Tata Consumer share price stands higher than 5, 20, 50, 100 and 200-day moving averages.

Market capitalisation of the firm stood at Rs 55,417.51 crore as of today's session. Tata Consumer share had hit its 52-week high at Rs 616.90 and 52-week low at Rs 214. The share currently trades 2.59% away from 52 week high of Rs 616.9.

The stock with Rs 1 face value has risen 0.02% in one week, 13% in a month and 85% in one year.

Tata Consumer share price closed 1.98% higher at Rs 601.35 on BSE.

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