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CARE ratings for Indian debt instruments-Nov 4

    Nov 4  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of November 3, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ambattur Fashion India Pvt Ltd        ST Bk Fac          CARE A3+       385     Revised from
                                                                                CARE A3+
(Enhanced from 33.00 Crore)
Avani Textiles Ltd                    ST Bk Fac          CARE A4        400     Reaffirmed
Axiscades Engineering Technologies LtdST Bk Fac          CARE A3        63      -
(Placed on Credit watch with Developing Implications)
Babanarayan Himghar Pvt Ltd           ST BkFac           CARE A4        1.4     -
(Rating moved to (Issuer Not Cooperating)category)
Gepong                                ST BkFac           CARE A4        50      -
Rating moved to (Issuer Not Cooperating) category
Hyquip Systems Ltd                    ST Bk Fac          CARE D         270     -
Rating continues to remain under (Issuer Not Cooperating) category
Jayem Automotives Pvt Ltd             ST Bk Fac          CARE A4        150     -
Rating continues to remain under (Issuer Not Cooperating) category
Jindal Itf Ltd                        ST Bk Fac – BG^    CARE A1+ (CE)  170     Reaffirmed
(Reduced from 25.00 Crore)^ The facilities are backed by unconditional and irrevocable corporate
guarantee provided by Jindal Saw Limited (JSAW, rated CARE AA; Stable and CARE A1+)
Jmj Switch Gears Pvt Ltd              ST Bk Fac          CARE D         17.2    -
Rating continues to remain under (Issuer Not Cooperating) category
Mahadev Craft Papers Pvt Ltd          ST Bk Fac          CARE A4        10      Assigned
Raghav Productivity Enhancers Ltd     ST Bk Fac          CARE A3+       10      Revised from
                                                                                CARE A3
Raipur Construction Pvt Ltd           ST BkFac           CARE A4        298.5   -
Rating continues to remain under (Issuer Not Cooperating) category
Rmbay                                 ST Bk Fac          CARE A4        90      Reaffirmed
(Enhanced from 8.00 Crore)
Sai Engicon And Construction Pvt Ltd  ST BkFac           CARE A4        250     -
Rating continues to remain under (Issuer Not Cooperating) category
Santosh Beej Bhandar                  ST Bk Fac          CARE A4;       5       -
Rating continues to remain under (Issuer Not Cooperating) category
Satyendra Kumar Construction Pvt Ltd  ST BkFac           CARE A4        160     -
(Issuer Not Cooperating)
Shree Balaji Woollen Mills            ST Bk Fac          CARE A4;       19.2    -
(Rating moved to Issuer Not Cooperating category)
Shree Narshingha Cold Storage Pvt Ltd ST BkFac           CARE A4        1.5     -
(Rating continues to remain under Issuer Not Cooperating category)
Tenny Jose Ltd                        ST Bk Fac          CARE D         275     Revised from
                                                                                CARE A4
Toyo Springs Ltd                      ST Bk Fac          CARE A4        390     Revised from
                                                                                CARE A3
(Issuer Not Cooperating)


LONG TERM RATINGS:
-------------------
Ambattur Fashion India Pvt Ltd        LT Bk Fac          CARE BBB-/     50.4    Revised from
                                                         Stable                 CARE BBB;
                                                                                Negative
(Reduced from 6.00 Crore)
Anjani Polytec Pvt Ltd                LT BkFac           CARE B-/ Stable100     Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating)
Avani Textiles Ltd                    LT Bk Fac          CARE BB-/      263     Reaffirmed
                                                         Stable
(Reduced from 26.75 Crore)
Axiscades Engineering Technologies LtdLT Bk Fac          CARE BBB       280.6   -
Placed on Credit watch with Developing Implications/(Reduced from 33.42 crs)
Axiscades Engineering Technologies LtdLT / ST Bk Fac     CARE BBB /CARE 650     -
                                                         A3
(Placed on Credit watch with Developing Implications)
Babanarayan Himghar Pvt Ltd           LT BkFac           CARE B/ Stable 93.9    -
Rating moved to (Issuer Not Cooperating)category
Bagzone Lifestyles Pvt Ltd            LT/ST Bk Fac       CARE BB+/      200     Revised from
                                                         Negative/CARE          CARE
                                                         A4+                    BBB-/CARE A3 &
                                                                                Negative outlook
                                                                                assigned
(Rating removed from credit watch with negative implications)
Deepshikha Exim Pvt Ltd               LT Bk Fac #        -              -       Withdrawn
# Bank facilities were backed by the unconditional and irrevocable corporate guarantee of Jindal
Worldwide Limited (JWL).
Gepong                                LT BkFac           CARE BB-/      63      Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Gravity India Technologies Pvt Ltd    LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+;
                                                                                Stable; and 
                                                                                Withdrawn
(Issuer Not Cooperating)
Hygen Packs                           LT Bk Fac          CARE BB-;      71.9    Revised from
                                                         Stable;                CARE
                                                                                BB; Stable
Rating moved to (Issuer Not Cooperating) category
Hyquip Systems Ltd                    LT Bk Fac          CARE D         53.8    -
Rating continues to remain under (Issuer Not Cooperating) category
Jayem Automotives Pvt Ltd             LT Bk Fac          CARE BB-/      850     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Rating continues to remain under (Issuer Not Cooperating) category
Jindal Itf Ltd                        LT Bk Fac- CC^                    0       Withdrawn
^ The facilities are backed by unconditional and irrevocable corporate guarantee provided by
Jindal Saw Limited (JSAW, rated
CARE AA; Stable and CARE A1+) 
Jindal Itf Ltd                        LT Bk Fac- TL^     CARE AA (CE)/  1050    Reaffirmed
                                                         Stable
(Enhanced from 81.58 Crore)^ The facilities are backed by unconditional and irrevocable
corporate guarantee provided by Jindal Saw Limited (JSAW, rated
CARE AA; Stable and CARE A1+)
Jindal Itf Ltd                        LT Bk Fac –BG @    CARE BBB (CE)  8590    -
Continues to be on Credit watch with Developing Implications /(Enhanced from 359.00 Crore)
@ The facilities are backed by unconditional and irrevocable corporate guarantee provided by
Glebe Trading Private Limited (Glebe), Siddeshwari Tradex Private Limited (STPL) and Danta
Enterprises Private Limited (Danta)
Jmj Switch Gears Pvt Ltd              LT Bk Fac          CARE D         51.2    -
Rating continues to remain under (Issuer Not Cooperating) category
Lahore Hospital Society               LT Bk Fac          CARE A-/       800     Assigned
                                                         Stable
Lalitpur Power Generation Co. Ltd     LT Bk Fac          CARE BB+/      1965    Assigned
                                                         Stable
Liquid Gold Series - I Oct 2020       Series A PTC       ProvCARE       -       Assigned
Originator: Iifl Finance Ltd                             AA (SO)
Madhuri P. Rural Godowns              LT Bk Fac          CARE D         99.7    -
Rating moved to (Issuer Not Cooperating) category
Mahadev Craft Papers Pvt Ltd          LT Bk Fac          CARE B+/       199     Assigned
                                                         Stable
Mahadev Craft Papers Pvt Ltd          LT/ ST BkFac       CARE B+/       80      Assigned
                                                         Stable/CARE A4
Mandakini Pachimatla                  LT Bk Fac          CARE D         92.5    -
Rating moved to (Issuer Not Cooperating) category
Matadeen Ramchandra Agarwal           LT Bk Fac          CARE BB-/      45      Reaffirmed
                                                         Stable
Matadeen Ramchandra Agarwal           LT / ST Bk Fac     CARE BB-/      20      Reaffirmed
                                                         Stable /CARE A4
Mdj Texco Fab Pvt Ltd                 LT Bk Fac          CARE BB-;      71.4    -
                                                         Stable
Rating moved to (Issuer Not Cooperating) category
Navayuga Bengalooru Tollway Pvt Ltd   LT Bk Fac          CARE D         4449.6  -
Rating moved to (Issuer Not Cooperating) category
Navayuga Jahnavi Toll Bridge Pvt Ltd  LT Bk Fac          CARE D         7200    -
Rating moved to (Issuer Not Cooperating) category
Patco Polypack Pvt Ltd                LT Bk Fac          --             0       Withdrawn
Pmc Rubber Chemicals (India) Pvt Ltd  LT Bk FacCC        CARE BB-,      300     Reaffirmed
                                                         Stable
Raghav Productivity Enhancers Ltd     LT Bk Fac          CARE BBB/      103.1   Reaffirmed
                                                         Stable
(Reduced from 11.34 Crore)
Raipur Construction Pvt Ltd           LT BkFac           CARE BB-/      1.5     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable;
(Issuer Not Cooperating)
Rmbay                                 LT Bk Fac          CARE BB/       172.1   Reaffirmed
                                                         Stable
(Enhanced from 11.85 Crore)
Sai Engicon And Construction Pvt Ltd  LT BkFac           CARE B+/ Stable50      Rised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Santosh Beej Bhandar                  LT Bk Fac          CARE BB-;      145     -
                                                         Stable
(ating continues to remain under Issuer Not Cooperating category)
Satyendra Kumar Construction Pvt Ltd  LT BkFac           CARE B/ Stable 20      Revised from
                                                                                CAREB+; Stable
Rating continues to remain under(Issuer Not Cooperating) category
Shiva Raju Pachimatla                 LT Bk Fac          CARE B-/ Stable99.9    Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating)
Shree Balaji Woollen Mills            LT Bk Fac          CARE BB-;      45.3    -
                                                         Stable
(Rating moved to Issuer Not Cooperating Outlook revised from Positive)
Shree Narshingha Cold Storage Pvt Ltd LT Bk Fac          CARE B/ Stable 82      -
(Rating continues to remain under Issuer Not Cooperating category)
Shree Sai Lifestyles                  LT BkFac           CARE BB-/      100     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Shri Dhanalakshmi Green Energy India  LT Bk Fac          CARE D         328.5   -
Pvt Ltd
Rating continues to remain under (Issuer Not Cooperating) category
Shri Tirupati Steel Cast Ltd          LT Bk Fac          CARE BBB-/     707.1   Reaffirmed;
                                                         Stable                 Outlook
                                                                                revised from
                                                                                Negative
(reduced from 70.75 Crore)
Sun Projects India Pvt Ltd            LT Bk Fac          CARE D         147.1   Revised from
                                                                                CARE BB-;
                                                                                Stable
Sunpaul Properties Pvt Ltd            LT Bk Fac          CARE B-        90      Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Tenny Jose Ltd                        LT Bk Fac          CARE D         320     Revised from
                                                                                CARE BB-;
                                                                                Stable
Tesna Tech Pvt Ltd                    LT Bk Fac          CARE BB/ Stable63.8    Revised from
                                                                                CARE BB+;
                                                                                Stable
(Issuer Not Cooperating)
Toyo Springs Ltd                      LT Bk Fac          CARE BB/ Stable1448.1  Revised from
                                                                                CARE BBB-;
                                                                                Stable;
Rating continues to remain under (Issuer Not Cooperating) category
Vesta Equipment Pvt Ltd               LT Bk Fac          CARE D         34.5    -
Rating continues to remain under (Issuer Not Cooperating) category
Vesta Equipment Pvt Ltd               LT / ST Bk Fac     CARE D         85      -
Rating continues to remain under (Issuer Not Cooperating) category
Welcos Spunfab                        LT / ST Bk Fac     CARE B+/       95      Revised from
                                                         Stable /CARE A4        CARE B;
                                                                                Stable / CARE A4
Rating removed from (Issuer Not Cooperating) category
Wholesome Foods                       LT Bk Fac          CARE B-; Stable85.5    Revised from
                                                                                CARE B; Stable
(moved to Issuer Not Cooperating category)
Wholesome Foods                       LT / ST Bk Fac     CARE B-;       50      Revised from
                                                         Stable /CARE A4        CARE B;
                                                                                Stable/    
                                                                                CARE A4
(moved to Issuer Not Cooperating category)
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

CARE may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@refinitiv.com)
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