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Sadbhav Infrastructure Project shares fall 18% after CARE Ratings downgrades subsidiary

Updated : June 28, 2019 10:39 AM IST

Shares of Sadbhav Infrastructure Project (SIPL) declined over 18 percent on Friday after CARE ratings downgraded the credit rating of Rohtak-Hissar Tollway (a wholly owned subsidiary of the company) to D from BB+.
The stock fell as much as 18.4 percent to Rs 58.75 per share on the BSE.
The company said that it shall clear the pending dues worth Rs 6.5 crore by today.
Sadbhav Infrastructure Project shares fall 18% after CARE Ratings downgrades subsidiary
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