This Group B stock is skyrocketing on Friday afternoon!

The shares have rallied after Acuite Ratings and Research Limited reaffirmed the Credit Rating of the Company

At 12:40 pm, as the S&P BSE Sensex is trading at 53,411.43, a decline of 0.01 per cent the stock price of the following company has jumped significantly. 

Superhouse Group is a multi-unit and multi-product conglomerate in the field of footwear, leather, and textile garments manufacturing and exports. Superhouse Group is engaged in manufacturing and supplying leather, leather goods, and textile garments across the world. This company has experienced promoters and established a market position in the export market for leather goods. It has a diversified product portfolio which includes finished leather, shoe uppers, finished footwear, textile garments, horse riding equipment, and other leather products. Superhouse Group has a total of twelve manufacturing facilities including two tanneries, across Uttar Pradesh and it sources its key raw materials from its tanneries and in-house leather product divisions, thereby reducing the risk of fluctuation in raw material prices. 

Acuité has reaffirmed the long-term rating of ‘ACUITE A-’ and the short-term rating of 'ACUITE A2+' on Rs 250.00 crore bank facilities of Superhouse Limited. The outlook is 'Stable'. 

Post this news the shares of this company are skyrocketing by 15.71 per cent and the scrip is currently trading at Rs 215.10. The stock has a 52-week high of Rs 245.05 and a 52-week low of Rs 144.50.