Crisil has moved Hariom Pipe's long-term rating from Stable to Watch Developing, indicating potential changes in the company's creditworthiness. The short-term non-fund-based rating remains at A2, but it is now under review for possible adjustments.

Hariom Pipes' Tamil Nadu plant has been temporarily shut down due to non-compliance with environmental standards, but the company plans to offset losses by ramping up production at its Telangana facility, hoping for a swift reopening in Tamil Nadu.