Not the right time to get into gna axel, fundamental detriorating and stock was pumped up. Current US policies on auto are coming under question mark, local growth in commercial may halt for a year due to uocoming elections, dont like this loan taken by GNA and capex anything goes wrong this might plummet heavily. Stay away as of now.
CRISIL has withdrawn ratings on GNA Axles citing non cooperation by the company.
The company is also rated by CARE Ratings…maybe the company wants to continue their rating with one rating agency
Press Release by CARE
Ya that’s what I thought. But at least they can respond that they don’t want the engagement to continue. Similar unresponsiveness to minority shareholders questions as well.
After IL&FS and DHFL rating case,difficult to trust these rating agencies,who is saying the truth.