Jindal Steel & Power, an Indian steel and energy company on Wednesday announced that the credit rating agency, Care Ratings has upgraded its rating to CARE BBB (+) with Stable outlook for long term facilities and Non -Convertible Debentures and CARE A2 for short term facilities of Jindal Steel & Power.

"CARE Ratings has upgraded its rating from CARE BBB (-) with Stable outlook to CARE BBB (+) with Stable outlook on the Long Term Bank Facilities and Non-Convertible Debentures and from CARE A3 to CARE A2 for short term facilities of Jindal Steel and Power," company said.

 Shares of the company gained Rs 6.45, or 2.49%, to settle  at  Rs 265.80.  The total volume of shares traded  was 5,04,000 at  the BSE (Wednesday).