IOL Chemicals hits 11-year high; up 25% in 7 days on credit rating upgrade

The stock was up 5 per cent to Rs 207 per share on the BSE, trading at its highest level since January 8, 2008.

Shares of IOL Chemicals and Pharmaceuticals (IOL) were trading 5 per cent higher at Rs 207 per share in morning trade on BSE, extending its past six trading days gain after CARE Ratings improved the credit rating for banking facilities availed by the company.

The stock of the leading manufacturer of APls/bulk drugs and specialty chemicals firm trading at its highest level since January 8, 2008. It touched an all-time high of Rs 220 on January 3, 2008, on the BSE.

During the past seven trading days, IOL Chemicals has rallied 25 per cent from Rs 166 level, as