Orient Bell zooms 18% on upward revision in credit ratings by Crisil

The company said the growth in the tiles market will continue to be driven by growth in real estate and housing sector, rise in disposable income, growth in renovation & remodelling activities.

Shares of Orient Bell (OBL) zoomed 18 per cent to Rs 684 on the BSE in Wednesday’s trade in an otherwise weak market after Crisil ratings upgraded its ratings on the bank facilities of the company to ‘CRISIL A/Stable/CRISIL A1’ from 'CRISIL A-/Stable/CRISIL A2+’.  The rating agency believes OBL will continue to benefit from its established market position and comfortable financial risk profile.

The stock of one of the leading manufacturer of ceramic and vitrified tiles traded close to its record high of Rs 688 touched on June 2, 2022. In comparison, the S&P BSE Sensex was down 0.5