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Unichem Laboratories climbs 19% after ICRA reaffirms long-term rating

The share touched its 52-week high of Rs 374.90 and 52-week low of Rs 197.50 on May 21, 2021 and November 22, 2021, respectively.

November 26, 2021 / 03:04 PM IST
 
 
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Unichem Laboratories share price rose more than 19 percent to Rs 246.45 intraday on November 26 after credit rating agency ICRA reaffirmed the long-term rating of bank facilities of the company.

ICRA has reaffirmed the long-term rating on the Rs 176-crore bank facilities of Unichem Laboratories to [ICRA] A. The outlook on the long-term rating has been revised to negative from stable.

This indicates adequate degree of safety regarding servicing of financial obligations. Such instruments carry low-credit risk, it added.

However, the market remained under pressure on the back of the surfacing of a new COVID variant, dragged by all the sectoral indices, except pharma, which was up over 2 percent.

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Unichem Laboratories was quoting at Rs 245, up Rs 39.10, or 18.99 percent, on the BSE.

The share touched its 52-week high of Rs 374.90 and 52-week low of Rs 197.50 on May 21, 2021 and November 22, 2021, respectively.

It was trading 34.4 percent below its 52-week high and 24.53 percent above its 52-week low at the time of filing this story.
Moneycontrol News
first published: Nov 26, 2021 03:04 pm

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