Mumbai, Sept. 17 -- The agency has assigned a 'stable' outlook to the long-term rating of the company.

Crisil Ratings stated that the rating upgrade reflects the strong support from the Sudesh Gupta (SG) group following transfer of controlling shareholding to Sanjay Gupta (chairman and MD of APL Apollo Tubes), along with his appointment as chairman of SG Mart.

The upgrade also factors in the company's strong operational and managerial integration with the SG group. The company is expected to benefit from the group's established market position, extensive business relationships and financial flexibility, which are likely to support its growth and expansion. Furthermore, the promoters have formally articulated their commitment to provide ...