Jubilant Life Sciences up 5% on talk of green panel for pesticide project

Jubilant Life Sciences was up 5% to Rs 729 on the BSE in early noon deals after media report suggested that the company’s pesticide project in Gujarat got the green panel nod.

The stock of an integrated global pharmaceutical and life sciences company has rallied 14% in past three trading sessions.

The BSE said that the Exchange has sought clarification from Jubilant Life Sciences on December 04, 2017 with reference to news appeared in www.business-standard.com dated December 03, 2017 quoting "Green panel nod to Jubilant Life's Rs 250-cr pesticide project in Gujarat".

The reply is awaited.

“The Centre's green panel has given the go-ahead to Jubilant Life Sciences for setting up a technical grade pesticide manufacturing unit in Gujarat, which would entail an investment of Rs 250 crore,” the PTI report suggested.

The proposed unit will be set up in an area of 20 hectares in Vagra taluk of Bharuch district, it added. CLICK HERE TO READ FULL REPORT.