J B Chem shines, bucks sectoral trend

DALAL STREET SPIKES

J B Chemicals stock rallied on strong volumes. The stock was up 14.47 per cent to Rs 95.80 on back of strong volumes of over 10.7 lakh shares on BSE. Market analyst said, the stock has been in the limelight on strong quarterly numbers.

While most pharma companies reported dismal quarterly results due to VAT related uncertainties, J B Chemicals reported a 9 per cent growth in net profit to Rs 11.44 crore on 10 per cent growth in sales to Rs 83 crore.

The stock has witnessed a smart rally in the past few days. From a low of Rs 70.40 on May 2, the stock has appreciated 35.7 per cent to Monday's close of Rs 95.80. The company witnessed 17 per cent growth in export revenue in the quarter ended March.