ICRA upgrades rating of Indoco Remedies Limited for Rs. 429.02 crore bank lines

The Rating Committee of ICRA after due consideration has upgraded the long-term rating for the captioned Line of Credit (LOC) to [ICRA]A+ (pronounced ICRA A plus) from [ICRA]A (pronounced ICRA A). The outlook on the long-term rating has been revised to Stable from Negative.

The Rating Committee of ICRA has also upgraded the short-term rating for the captioned LOC to [ICRA]A1 (pronounced ICRA A one) from [ICRA]A2+ (pronounced ICRA A two plus).

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.220.5 as compared to the previous close of Rs. 218.8. The total number of shares traded during the day was 3236 in over 192 trades.

The stock hit an intraday high of Rs. 222.5 and intraday low of 213.6. The net turnover during the day was Rs. 704075.

Source : Equity Bulls

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