Jubilant Life Sciences falls 11% after block deals

The stock slipped 11% to Rs 883 on the NSE in intra-day trade on Friday after a more than seven per cent of the total equity of pharmaceutical company changed hands on the NSE and BSE till noon deal.

Jubilant Life Sciences has slipped 11% to Rs 883 on the National Stock Exchange (NSE) in intra-day trade on Friday after more than 7% of the total equity of pharmaceutical company changed hands on the NSE and BSE till noon deal. The exchanges data showing that a multiple block deals executed on the counter in early trade.

Till 11:47 am; a combined 12.07 million equity shares representing 7.59% of total equity of Jubilant Life Sciences changed hands on the NSE and BSE. The stock was trading 9% lower at Rs 903 on the BSE, as compared to 0.72% rise in the S&P BSE Sensex.

The names of the buyers and sellers not ascertained immediately.

As of December 31, 2017, the promoters were holding 54.02% stake in the company.

Jubilant Life Sciences had a strong run-up by gaining 26% thus far in the current calendar year 2018, against 0.7% decline in the benchmark Sensex till Thursday.