Jubilant Life Sciences has moved higher by 8% to Rs 153 after the company announced a price increase of 18% for Niacin feed-grade, with immediate effect.
The price hike is for non-contract customers and wherever, existing contracts permit, Jubilant Life Sciences said in a press release.
The company said, "Nutrition business of Jubilant Life Sciences, the manufacturer of vitamin B3 (Niacin & Niacinamide) is backward integrated up to the initial raw material stage with global scale of operations."
The stock opened at Rs 142 and touched a low of Rs 139 in early morning deals on the BSE. The trading volumes on the counter nearly double with a combined 1.38 million shares changing hands till 1250 hours on the BSE and NSE.
The price hike is for non-contract customers and wherever, existing contracts permit, Jubilant Life Sciences said in a press release.
The company said, "Nutrition business of Jubilant Life Sciences, the manufacturer of vitamin B3 (Niacin & Niacinamide) is backward integrated up to the initial raw material stage with global scale of operations."
The stock opened at Rs 142 and touched a low of Rs 139 in early morning deals on the BSE. The trading volumes on the counter nearly double with a combined 1.38 million shares changing hands till 1250 hours on the BSE and NSE.