Shares of Home First Finance Company India Ltd rose 2.65% on June 5 to ₹1,287.70, following a positive credit rating action. India Ratings and Research upgraded the company’s long-term credit rating to IND AA/Stable from IND AA-/Positive. The short-term commercial paper programme rating was reaffirmed at IND A1+.
As per the company’s regulatory filing dated June 4, the rating upgrade applies to bank loans worth ₹49 billion and non-convertible debentures amounting to ₹4 billion. The move signals improved creditworthiness and financial strength of the housing finance company.
The stock opened higher and moved within a range of ₹1,261.20 to ₹1,292.90 during the day, compared to its previous close of ₹1,254.40. At the current level, Home First Finance commands a market capitalization of ₹132.87 billion, with a P/E ratio of 30.61 and dividend yield of 0.29%.
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