CARE ratings has upgraded the bank loan rating of Gravita India on its improved scale of operations and continuous business performance.

The rating agency CARE has upgraded Gravita's long-term bank loan rating to ''A'' and short term bank loan rating to ''A2''.

This will help company to reduce its interest cost on the borrowings.

Shares of the company gained Rs 7.4, or 13.04%, to trade at Rs 64.15. The total volume of shares traded was 220,714 at the BSE (3.33 p.m., Thursday).