Camlin Fine hits record high as Ind-Ra upgrades long-term issuer rating

The upgrade reflects steady improvement in CFSL's operating performance over FY18-FY21 and the substantial improvement in the credit profile

Shares of Camlin Fine Sciences (CFSL) hit fresh record high of Rs 215.65, up 6.5 per cent on the BSE in the intra-day trade on Thursday, after credit rating agency, India Ratings & Research or Ind-Ra (Fitch Group), upgraded the long-term issuer rating the company.

In the past two weeks, the stock has outperformed the market by surging 29 per cent as compared to a 0.01 per cent decline in the S&P BSE Sensex.

"The upgrade reflects steady improvement in CFSL’s operating performance over FY18-FY21 and the substantial improvement in its credit profile. Furthermore, the commencement of commercial