ICRA reaffirms rating of Torrent Pharmaceuticals Limited

Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has reaffirmed the long-term rating at [ICRA]AA (pronounced ICRA double A) for the borrowing programme of Torrent Pharmaceuticals Limited. The outlook on the long-term rating is revised to Positive from Stable. Instruments with such rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has reaffirmed the rating at [ICRA]A1+ (pronounced ICRA A one plus) for the commercial paper borrowing programme. Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.

Shares of Torrent Pharmaceuticals Ltd. was last trading in BSE at Rs. 3117 as compared to the previous close of Rs. 3052.2. The total number of shares traded during the day was 8027 in over 1445 trades.

The stock hit an intraday high of Rs. 3125 and intraday low of 3042.1. The net turnover during the day was Rs. 24804780.

Source : Equity Bulls

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