Jubilant Life Sciences surges on delisting plan report
The stock has surged 16% to Rs 88.50 on back of heavy volumes on the National Stock Exchange.
Jubilant Life Sciences has surged 16% to Rs 88.50 on reports that the company may delist its equity shares from Indian bourses.
The stock opened at Rs 79.60 and hit a high of Rs 89.50 on the National Stock Exchange (NSE). A combined 3.3 million shares have already changed hands on the counter till 1430 hours against an average sub one million shares that were traded daily in past two weeks on both the exchanges.
Shares of a global pharmaceutical and life sciences firm that manufactures and supplies active pharmaceutical ingredients, generics and life science ingredients currently listed on the BSE and NSE.
“Jubilant Life Sciences aimed to raise $150-200 million through the initial public offering, might soon list itself on the New York Stock Exchange (NYSE),” the Business Standard report suggests.
Meanwhile, the stock has rallied 18% in past three days after the company said it has received ANDA approvals for Bupropion Hydrochloride from US FDA.
The current total market size of these products as per IMS is $518 million per annum. The company expects to launch these products in Q3 FY14, Jubilant Life Sciences said in a statement.
The stock opened at Rs 79.60 and hit a high of Rs 89.50 on the National Stock Exchange (NSE). A combined 3.3 million shares have already changed hands on the counter till 1430 hours against an average sub one million shares that were traded daily in past two weeks on both the exchanges.
Shares of a global pharmaceutical and life sciences firm that manufactures and supplies active pharmaceutical ingredients, generics and life science ingredients currently listed on the BSE and NSE.
“Jubilant Life Sciences aimed to raise $150-200 million through the initial public offering, might soon list itself on the New York Stock Exchange (NYSE),” the Business Standard report suggests.
Meanwhile, the stock has rallied 18% in past three days after the company said it has received ANDA approvals for Bupropion Hydrochloride from US FDA.
The current total market size of these products as per IMS is $518 million per annum. The company expects to launch these products in Q3 FY14, Jubilant Life Sciences said in a statement.