Avantel, engaged in manufacturing of telecom products and providing software development services, said that the rating agency CRISIL has revised (upgraded) its rating on the bank facilities of the company.

CRISIL has upgraded its rating on the long term bank facilities of Avantel to "CRISIL  BBB/Stable" from "CRISIL BBB-/Stable."

The rating agency has revised its rating on the short term bank facilities to "CRISIL A3+" from "CRISIL A3."

Shares of the company declined Rs 4.4, or 1.2%, to settle  at  Rs 362.  The total volume of shares traded  was  4,296 at  the BSE (Thursday).  

The scrip has touched an intra-day high of Rs 370 and low of Rs 360.

The stock touched its 52-week high Rs 478.90  and 52-week low Rs 140 on Aug. 28, 2020 and Mar. 30, 2020 respectively.