India Glycols soars 19% as FPI buys stake, Ind-Ra upgrades credit ratings

On Friday, October 1, 2021, WHV-EAM International Small Cap Equity Fund purchased 186,947 equity shares or 0.60 per cent stake of IGL at price of Rs 830.22 on the NSE via bulk deal

Shares of India Glycols (IGL) soared 19 per cent to Rs 999 on the National Stock Exchange (NSE) in Monday’s intra-day trade after the foreign portfolio investor (FPI) bought stake in the company via open market. Further, credit rating agency, India Ratings & Research (Ind-Ra), has also upgraded the company's long-term issuer ratings to 'IND A/Stable' from 'IND A-/Stable' while resolving the Rating Watch Positive (RWP).

The stock of commodity chemicals was trading at its record high level. In past one week, it has rallied 30 per cent, as against a 1.3 per cent rise in the Nifty50 index.