J B Chem up on Russian acquisition plan

DALAL STREET SPIKES

J B Chemicals was up 4.62 per cent to Rs 95.10 compared with its previous close at Rs 90.90. It had earlier touched an intra-day high of Rs 102.

The spike in the scrip was due to the latest buzz in the market about the company's plan to acquire a Russian pharmaceutical packaging company.

The company had reported 15 per cent growth in net profit to Rs 11.82 crore and net sales rose 33 per cent to Rs 94.62 crore. The company recently entered into an out-licensing agreement with Ranbaxy.

Laboratories for Doktor Mom in Romania. J B Chemicals' cough syrup brand Doktor Mom is a market leader in Russia.