ICRA-assigned Credit Rating for Rs. 429.02 crore Bank Facilities of Indoco Remedies Limited

Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has revised the long-term rating to [ICRA] AA- (pronounced ICRA double A minus) from [ICRA] A+ (pronounced ICRA A plus). The outlook on the long-term rating is Stable. The Rating Committee of ICRA, after due consideration has also revised the short-term rating to [ICRA] A1+ (pronounced ICRA A one plus) from [ICRA] A1 (pronounced ICRA A one). Instruments with [ICRA] AA are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs. 448.75 as compared to the previous close of Rs. 441.25. The total number of shares traded during the day was 28788 in over 1480 trades.

The stock hit an intraday high of Rs. 458.8 and intraday low of 442. The net turnover during the day was Rs. 12989700.

Source : Equity Bulls

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