Jubilant Life gains after price hike of Vitamin B3

Jubilant Life Sciences rose 1.63% to Rs 469.3 at 9:58 IST on the BSE after the company announced a price hike of 10% for Vitamin B3.

The announcement was made after market hours, yesterday, 15 July 2019.

Meanwhile, the S&P BSE Sensex was up by 143.41 points, or 0.37% to 39,040.29.

On the BSE, 9804 shares were traded in the counter so far compared with average daily volumes of 14000 shares in the past two weeks. The stock had hit a high of Rs 477.25 and a low of Rs 467 so far during the day. It hit a 52-week high of Rs 898 on 18 March 2019 and a 52-week low of Rs 450 on 6 June 2019.

Jubilant Life Sciences has announced a price increase of 10% for its Vitamin B3 (Niacin & Niacinamide) with immediate effect, for non-contract customers and wherever existing contracts permit.

Jubilant is the second largest producer of Vitamin B3 globally. The Vitamin B3 business is part of our life science ingredients (LSI) segment, which offers a broad portfolio of high quality ingredients that find application in wide range of industries.

On a consolidated basis, the company's net profit declined 51.7% to Rs 74.80 crore on a 5.8% rise in net sales to Rs 2352.15 crore in Q4 March 2019 over Q4 March 2018.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and other businesses including drug discovery solutions.

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