Jubilant Life on a roll: at 52-w high
DSIJ Intelligence / 30 Nov 2016
Jubilant Life Sciences Ltd., is buzzing on bourses with the stock soaring by almost 7.12 per cent on an intraday basis on Wednesday. The stock trading at Rs 708.60 per share managed to make highs on intraday basis at Rs 725 per share thus marking a new 52-w high.
Jubilant Life Sciences Ltd., is buzzing on bourses with the stock soaring by almost 7.12 per cent on an intraday basis on Wednesday. The stock trading at Rs 708.60 per share managed to make highs on intraday basis at Rs 725 per share thus marking a new 52-w high.
On November 25, the company had announced its shareholders' approval to raise Rs 1000 crore.
Jubilant Life Sciences has recently received final approval for the generic version of Crestor tablets from the US food and Drug Administration.
The pharmaceuticals business for Jubilant Life Sciences has grown at 15% CAGR in FY11-16 driven by generics and specialty pharma. The margin scenario is returning to normal owing to generic launches in US, launches in specialty pharma and successful resolution of two CMO facilities for the company.
The stock is up by more than 60 per cent on a one year basis and is trading well above its 30 days moving average, indicating bullishness in the scrip.
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