Jubilant Life Sciences rose 2.55% to Rs 211 at 11:55 IST on BSE after the company announced a price-increase of 9% for Niacinamide, with immediate effect, for non-contract customers and wherever existing contracts permit.
The announcement was made during market hours today, 12 June 2014.
Meanwhile, the S&P BSE Sensex was up 68.03 points or 0.27% at 25,541.92.
On BSE, so far 1.14 lakh shares were traded in the counter as against average daily volume of 60,012 shares in the past one quarter.
The stock hit a high of Rs 220 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 206.55 so far during the day. The stock had hit a 52-week low of Rs 65.10 on 28 August 2013.
The stock had outperformed the market over the past one month till 11 June 2014, surging 17.87% compared with the Sensex's 10.78% rise. The scrip had also outperformed the market in past one quarter, jumping 52.13% as against Sensex's 16.71% rise.
The small-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.
Jubilant Life Sciences said it delivers unmatched advantages of consistent quality and availability of Vitamin B3 (Niacin & Niacinamide) to its customers globally. The company's nutrition business is backward integrated up to the initial raw material stage with global scale of operations, the company said in a statement.
Jubilant Life Sciences reported a consolidated net profit of Rs 98.81 crore in Q4 March 2014 as against net loss of Rs 30.97 crore in Q4 March 2013. Net sales rose 12.4% to Rs 1551.62 crore in Q4 March 2014 over Q4 March 2013.
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 drug discovery and development.
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