Trident has witnessed a sharp rise in share prices on Monday after the Credit Analysis & Research (CARE) credit ratings have upgraded its ratings to 'A-'.

CARE has upgraded the company to 'A-' from 'BBB+' rating for long term bank facilities of Rs 33.42 billion.

It has upgraded the company to 'A-' and A2+ from 'BBB+' and A2 rating for long term and short term bank facilities of Rs 10 billion. Further CARE upgraded the company to 'A2+' from 'A2' rating for short term bank facilities of Rs 3.5 billion.

Shares of the company gained Rs 0.75, or 3.09%, to trade at Rs 25.05. The total volume of shares traded was 227,702 at the BSE (10.19 a.m., Monday).

The scrip has touched an intra-day high of Rs 25.70 and low of Rs 25. The total volume of shares traded at the BSE is 227,702.