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J B Chemicals spurts 41% in five days

Capital Market 

J B Chemicals & Pharmaceuticals surged 14.65% to Rs 1111.60, extending gains for the fifth day.

On the BSE, the stock jumped 18.11% to hit the day's high at Rs 1145.15, which is also a record high for the counter. Over 1.77 lakh shares of the company were traded so far, which over 5 times the two-week average trading volume of 0.35 lakh shares.

It has added 41.14% in five sessions from its recent closing low of Rs 787.55 on 10 September 2020. The rally was triggered by the company's strong Q1 performance. Its consolidated net profit surged 92.4% to Rs 119.51 crore on 17.1% increase in net sales to Rs 522.29 crore in Q1 June 2020 over Q1 June 2019.

The strong results for Q1 FY21 were driven by growth in exports, API and chronic therapies in the domestic market, along with lower sales and marketing costs during lockdown. The results were announced after market hours on 14 September 2020.

J B Chemicals & Pharmaceuticals is a pharmaceutical company that manufactures & markets a diverse range of pharmaceutical formulations, herbal remedies and active pharmaceutical ingredients (APIs). It exports to many countries worldwide with presence in US, Europe, Australia, South Africa, other developing countries, Russia and CIS.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 17 2020. 14:57 IST