Jubilant Life gets livelier after restarting distillery unit

Jubilant Life Sciences gained 2.65% to Rs 746.75 at 14:35 IST on BSE after the company announced that it has restarted operations of the distillery unit at Gajraula with effect from 1 June 2017

The announcement was made during market hours today, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 17.62 points or 0.06% at 31,163.42.

On the BSE, 85,491 shares were traded on the counter so far as against the average daily volumes of 1.03 lakh shares in the past one quarter. The stock had hit a high of Rs 768.50 and a low of Rs 741 so far during the day.

The stock had hit a record high of Rs 879.10 on 12 April 2017 and a 52-week low of Rs 294.20 on 24 June 2016. The stock had underperformed the market over the past one month till 31 May 2017, dropping 5.78% compared with 4.1% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 1.18% as against Sensex's 8.36% gains. The scrip had, however, outperformed the market in past one year, gaining 101.22% as against Sensex's 16.79% gains.

The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Rs 1.

Jubilant Life Sciences announced that the National Green Tribunal (NGT) has passed an oral order dated 31 May 2017, allowing it to restart the manufacturing operations of company's distillery unit at Gajraula, Uttar Pradesh from 1 June 2017, subject to certain stipulations.

Pursuant to the order, the company has restarted operations of the distillery unit with effect from 1 June 2017. With this, manufacturing operations of all the company's units at Gajraula have resumed.

On 9 May 2017, the company had restarted manufacturing operations in all its units in Gajraula except the distillery unit after NGT had passed an order regarding the same.

On 27 April 2017, the company had announced that NGT had passed order to cease operations of certain industrial units in Gajraula sighting pollution caused by the units.

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

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