NGL Fine Chem rises 3% after ICRA upgrades rating

ICRA upgraded the company's long term rating to "BBB+" with a stable outlook from BBB (Stable). 

Shares of NGL Fine Chem rose over 3 percent intraday on January 16 after ICRA upgraded the company's long-term and short-term ratings.

ICRA upgraded the company's long term rating to "BBB+" with a stable outlook from BBB (Stable).

ICRA also raised NGL Fine Chem's short term rating to "A2" from "A3+".

NGL Fine Chem manufactures pharmaceuticals and has tie-ups with several global companies.

At 1153 hours, NGL Fine Chem was quoting at Rs 473 on the BSE, up 3.05 percent.

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