Falcon Tyres edges up on BSE

Falcon Tyres Ltd. | Tyres & Allied | Automobiles | BSE: 509527 | NSE: FALCONTYRE

17 Dec 2012 Evaluate

Falcon Tyres is currently trading at Rs 22.90, up by 0.15 points or 0.66 % from its previous closing of Rs 22.75 on the BSE.

The scrip opened at Rs 23.25 and has touched a high and low of Rs 23.45 and Rs 22.65 respectively. So far 2481 shares were traded on the counter.

The BSE group 'T' stock of face value Rs 5 has touched a 52 week high of Rs 42.80 on 07-Feb-2012 and a 52 week low of Rs 20.20 on 06-Sep-2012.

Last one week high and low of the scrip stood at Rs 23.50 and Rs 22.25 respectively. The current market cap of the company is Rs 177.41 crore.

The promoters holding in the company stood at 31.62% while Institutions and Non-Institutions held 0.35% and 68.03% respectively.

Credit rating agency, CARE has revised BB rating to the Falcon Tyres’ Rs 319.10 crore long term bank facilities from BBB. The rating agency has also revised the company’s short term bank facilities rating worth Rs 59 crore to A4 from A3.

The company has received the revised rating on account of deterioration in its liquidity position owing to less than optimum utilisation of the newly expanded capacity and significant net losses incurred during FY12 primarily on account of exceptional loss incurred on sale of investment in Monotona Tyres (MTL).

Falcon Tyres manufactures and markets a wide range of nylon bias ply tyres and butyl tubes for two and three wheelers, passenger cars , jeeps , light commercial and farm vehicles under the DUNLOP brand in Indian market and Falcon and Donin brands for export markets.