Astec Life hits 52-wk high as ICRA reaffirms ratings, zooms 84% in 1 month

The domestic agrochemical industry has benefitted from the global supply-chain disruptions caused by the tightened environment regulations in China.

Shares of Astec LifeSciences hit a 52-week high of Rs 719, up 8 per cent on the BSE on Tuesday after the rating agency ICRA reaffirmed the long-term and short-term outstanding rating of Rs 455 crore line of credit (LOC) of the agrochemicals company. Godrej Agrovet, which is the promoter of the company, currently holds 61.18 per cent stake in the company.

In the past month, the stock has zoomed 84 per cent, as compared to a 2.4 per cent decline in the S&P BSE Sensex. It was trading close to its all-time high level of Rs 783 touched on June