Orient Green Power share price rallied as much as 9% on NSE in Wednesday's trading session after credit rating agency ICRA has assigned the credit ratings for its operating subsidiaries, Beta Wind Farm Private Limited and Delta Renewable Energy Private Limited.
Orient Green Power shares opened at ₹9.06 per share today, as compared to previous close of ₹9.15 on Tuesday. The stock touched an intraday high of ₹10.45 on 9 September.
Meanwhile, benchmark indices Sensex and Nifty came under heavy selling pressure in early trade on Wednesday. The 30-share BSE Sensex plunged 500.25 points to 75,060.61, while the 50-share NSE Nifty fell 129.40 points to 23,506.10.
In an exchange filing dated 9 September, Orient Green Power informed that ICRA has assigned BBB (Stable) rating for Beta’s existing loan facility of ₹458.63 crore — a one-notch improvement from the rating of CRISIL BBB- (Positive) assigned by CRISIL Ratings Limited.
Beta Wind Farm is a key subsidiary of OGPCL and operates 241.6 MW of wind energy projects across Tamil Nadu, Andhra Pradesh, Gujarat, and Karnataka.