Friday 13 June 2014

Jubilant Life Sciences extends Thursday's gains


Jubilant Life Sciences rose 1.75% to Rs 215.30 at 12:14 IST on BSE, with the stock extending Thursday's 2.84% gains triggered by the company announcing a price hike of 9% for Niacinamide, with immediate effect.


On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 61,368 shares in the past one quarter.
The stock hit a high of Rs 222 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 211.55 so far during the day. The stock had hit a 52-week low of Rs 65.10 on 28 August 2013.
The stock had outperformed the market over the past one month till 12 June 2014, surging 25.62% compared with Sensex's 8.6% rise. The scrip had also outperformed the market over the past one quarter, jumping 49.44% as against Sensex's 17.02% rise.
Shares of Jubilant Life Sciences (JLL) have risen 4.64% in two trading sessions from a recent low of Rs 205.75 on 11 June 2014, after the company during market hours on Thursday, 12 June 2014, announced a price-increase of 9% for Niacinamide, with immediate effect, for non-contract customers and wherever existing contracts permit. The stock had risen 2.84% to settle at Rs 211.60 on Thursday, 12 June 2014.
JLL said it delivers unmatched advantages of consistent quality and availability of Vitamin B3 (Niacin & Niacinamide) to its customers globally. The company's nutrition business is backward integrated up to the initial raw material stage with global scale of operations, the company said in a statement.
Jubilant Life Sciences reported a consolidated net profit of Rs 98.81 crore in Q4 March 2014 as against net loss of Rs 30.97 crore in Q4 March 2013. Net sales rose 12.4% to Rs 1551.62 crore in Q4 March 2014 over Q4 March 2013.

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