IOL Chemicals and Pharma extends rally; stock up 2%

Rating agency CARE revised the rating on IOL's long-term bank facilities to CARE BBB+ from CARE BBB- and of short-term bank facilities to CARE A2 from CARE A3, as per a BSE filing.

Jan 10, 2019 06:01 IST India Infoline News Service

Shares of IOL Chemicals and Pharmaceuticals (IOL) extended their sixth day rally trading higher on the BSE. The stock gained after CARE Ratings enhanced the credit rating for banking facilities availed by the company.

Rating agency CARE revised the rating on IOL's long-term bank facilities to CARE BBB+ from CARE BBB- and of short-term bank facilities to CARE A2 from CARE A3, as per a BSE filing.

Meanwhile, Oregon Public Employees Retirement System acquired 3.03 lakh shares or 0.54% equity at Rs196.88 each.

IOL Chemicals & Pharmaceuticals Ltd is currently trading at Rs200.20 up by Rs3.3 or 1.68% from its previous closing of Rs196.90 on the BSE.

The scrip opened at Rs200 and has touched a high and low of Rs206.65 and Rs198.05 respectively.

The BSE group 'B' stock of face value Rs10 has touched a 52-week high of Rs200 on January 9, 2019 and a 52-week low of Rs70.05 on February 5, 2018. Last one week high and low of the scrip stood at Rs200 and Rs169.50 respectively.

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