Shares of Bannari Amman Sugars (BASL) continued their northward movement, hitting a new high of Rs 2,850. The stock has so far rallied 17 per cent on the BSE in Monday’s intra-day trade and was quoting higher for the fifth straight trading day, zooming 35 per cent in one week. In comparison, the S&P BSE Sensex has risen 4.3 per cent during the period.

On November 30, 2021, BASL announced that the CARE Ratings reaffirmed the credit ratings for the credit facilities the company offered by bankers.

The ratings assigned to the bank facilities of BASL continue to factor in the well-established, and long track record of the company in the sugar industry, integrated nature of operations with income from distilleries and power including income derived from the granite business, CARE Ratings said in rationale.

BASL is the group’s flagship company and boasts of a successful operational track record of over 30 years in the sugar industry. The company is engaged in the manufacture of sugar, industrial alcohol, bioproducts, granite products and generation of power through sugar co-gen and windmills.