JB Chemicals surges 31% in eight days; stock nears record high

On April 1, the SC set aside the NGT order directing revocation of environmental clearance and closure of the company's bulk drugs Unit at Panoli, Gujarat

Shares of JB Chemicals & Pharmaceuticals were trading higher for the eight straight day, up 9 per cent to Rs 588 on the BSE on Monday. The stock was trading close to its record high level of Rs 599, hit on February 14, 2020.

In the past eight trading days, the stock has rallied 31 per cent after the Supreme Court on April 1 set aside the Orders of National Green Tribunal (NGT) directing revocation of environmental clearance and closure of the Company's bulk drugs Unit at Panoli, Gujarat. In comparison, the S&P BSE Sensex was up 15 per