Jubilant Life Sciences slips after hiking prices of select products

Jubilant Life Sciences fell 3.40% to Rs 599.50 at 14:55 IST on BSE after the company announced price increase of up to 15% for Beta Picoline, 3-Cyanopyridine and vitamin B3.

The announcement was made during trading hours today, 20 December 2016.

Meanwhile, the BSE Sensex was down 66.47 points, or 0.25%, to 26,308.23.

On the BSE, so far 93,000 shares were traded in the counter, compared with average daily volumes of 1.52 lakh shares in the past one quarter. The stock had hit a high of Rs 626.75 and a low of Rs 595 so far during the day.

The stock hit a record high of Rs 726.40 on 1 December 2016. The stock hit a 52-week low of Rs 272.50 on 20 January 2016. The stock had underperformed the market over the past 30 days till 19 December 2016, falling 1.44% compared with the 0.86% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 5.02% as against Sensex's 7.53% decline.

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

Jubilant Life Sciences announced a price increase of up to 15% for its Beta Picoline, 3-Cyanopyridine and vitamin B3 (Niacin & Niacinamide) with immediate effect, for non-contract customers and wherever existing contracts permit.

On a consolidated basis, net profit of Jubilant Life Sciences rose 14.52% to Rs 144.77 crore on 5.16% decline in net sales to Rs 1359.70 crore in Q2 September 2016 over Q2 September 2015.

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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