JB Chemicals forged up today as the market greeted its strategic alliance with the Arrow group of Canada with enthusiasm. The scrip closed the day today on the BSE at Rs 212.10, up 4.71 per cent.
In the early hours of trading, the scrip rose 5.65 per cent to Rs 214. It recorded volumes of 65,258 shares on the BSE.
Yesterday the scrip ended higher by 4.8 per cent to Rs 202.55 after the company announced that it was entering into a strategic alliance with the Arrow group of Canada.
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In one month (May 8 and June 11), the stock of the pharmaceuticals company climbed 34 per cent to Rs 202.55 from Rs 151.
The strategic partnership between JBCPL and the Arrow group will bring forth the two companies strengths in the generics market and will enable JBCPL to develop, manufacture and supply a select basket of generic formulations to the Arrow group.
The Arrow group, in turn, will market and distribute generic formulations in the regulated market. Subsequently, the alliance shall expand to other attractive therapeutic segments.