Jubilant Life Sciences drops on profit booking

Jubilant Life Sciences lost 1.92% to Rs 148.20 at 14:58 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 3.34 points or 0.02% at 21,777.95.

On BSE, so far 82,000 shares were traded in the counter as against average daily volume of 59,031 shares in the past one quarter.

The stock hit a high of Rs 152.20 and a low of Rs 146.90 so far during the day. The stock had hit a 52-week low of Rs 65.10 on 28 August 2013. The stock had hit a 52-week high of Rs 190 on 14 March 2013.

The stock had outperformed the market over the past one month till 13 March 2014, advancing 19.49% compared with the Sensex's 7.83% rise. The scrip had also outperformed the market in past one quarter, jumping 31.91% as against Sensex's 5.11% rise.

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

Shares of Jubilant Life Sciences had rallied 11.71% in two trading sessions to settle at Rs 151.10 on Thursday, 13 March 2014, from a recent low of Rs 135.25 on 11 March 2014. The rally in the stock was accentuated after the company during market hours on Thursday, 13 March 2014 said it has increased the price of Niacin feed-grade by 18% with immediate effect for non-contract customers and wherever existing contracts permit. The stock had surged 6.71% to settle at Rs 151.10 on Thursday, 13 March 2014.

Jubilant Life Sciences' consolidated net profit spurted 437.4% to Rs 143.43 crore on 10.2% growth in net sales to Rs 1427.65 crore in Q3 December 2013 over Q3 December 2012.

Jubilant Life Sciences is a global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and life science ingredients. It also provides services in contract manufacturing of sterile injectables and ointments, creams and liquids and drug discovery and development.

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