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Bafna Pharma extends gains on rating upgrade by CRISIL

CRISIL has upgraded the company's rating for short term and long term lending

SI Reporter  |  Mumbai 

Bafna Pharmaceuticals has gained around 8% to Rs 35.50 in BSE extending its gains from Wednesday on rating upgrade by CRISIL.

On Wednesday, the company informed BSE that CRISIL has upgraded the rating as CRISIL BB-/stable (Upgraded from CRISIL D) for Long Term rating & CRISIL A4+ (Upgraded from CRISIL D) for Short term Rating in respect of Total bank facilities.

Bafna Pharmaceuticals is engaged in the manufacture of drugs and medicines and supplies hi-end pharmaceutical formulations to regulated of United Kingdom, Europe and Australia apart from emerging like Sri Lanka, Africa and CIS countries etc.

The stock opened at Rs 34.60 and has hit a high of Rs 36.50 till 12:55 hours and around 3,70,000 shares have chnaged hands on BSE and NSE combined.

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First Published: Thu, November 20 2014. 12:57 IST