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The stock of Cipla gained one per cent to trade at Rs 435.60 on the BSE on Wednesday after the company said that Fitch rated it with highest credit quality.
Meanwhile, the BSE Sensex tumbled about 75 points or 0.4 per cent.
Cipla Ltd has informed the BSE that India Ratings & Research Pvt Ltd, a Fitch group company, has assigned a Long-Term Issuer Rating of ‘IND AAA’ to the company.
‘AAA’ ratings denote the lowest expectation of default risk. They are assigned only in the case of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.
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