Archies gain on getting ICRA reaffirmation on long-term rating

The stock of Archies Limited, India’s market leader in the social expression industry, gained more than two per cent after the company announced that it has been reaffirmed long-term rating by ICRA.

In an exchange filing made during the market hours on Tuesday, Archies informed that the rating committee, ICRA, after due consideration, has reaffirmed the long-term rating for the captioned line of credit (LOC) of Rs 33 crore at [ICRA] BBB, pronounced as ICRA triple B minus.

Moreover, the outlook on the long-term rating has also been revised to negative from stable.  

Archies Limited is engaged in the manufacture of paper and paper products as well as retail sale of other goods in stores. The company offers its products under the brand name-Archies. Other segments of the company include greetings cards, customised & personalised gift items, fashion accessories and stationery products.

At the time of market closing on Tuesday, the stock of Archies Ltd was trading at Rs 11.68, up by 2.46 per cent against its previous close of Rs 11.40. Its 52-week high is Rs 25.00 while, its 52-week low is Rs 8.12 on BSE.