Jain Irrigation Systems slumps 26% after rating downgrade
Updated : June 19, 2019 02:50 PM IST
Shares of Jain Irrigation Systems tanked over 26 percent to a 52-week low
India Ratings downgraded long-term issuer rating to 'BBB' from 'A-' while placing it on 'Rating Watch Negative' (RWN).
The report said, "The downgrade reflects deterioration in the liquidity profile of Jain Irrigation Systems on account of a delay in the realisation of its receivables from its micro-irrigation systems segment."