Jubilant Life Sciences rose 1.65% to Rs 782.45 at 11:23 IST on BSE after the National Green Tribunal allowed the company to restart manufacturing operations at Gajraula units.
The announcement was made after market hours yesterday, 9 May 2017.Meanwhile, the S&P BSE Sensex was up 245.10 points, or 0.82% to 30,178.35.
On the BSE, 55,000 shares were traded in the counter so far, compared with average daily volumes of 99,595 shares in the past one quarter. The stock had hit a high of Rs 797.95 and a low of Rs 774 so far during the day. The stock hit a record high of Rs 879.10 on 12 April 2017. The stock hit a 52-week low of Rs 294.20 on 24 June 2016.
The stock had underperformed the market over the past one month till 9 May 2017, falling 5.32% compared with 1.21% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.49% as against Sensex's 5.81% rise.
The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.
The National Green Tribunal (NGT) has passed an order allowing the company to restart manufacturing operations in all its units at Gajraula (except the distillery unit) in compliance with the directions issued by the NGT in this regard. The company said it has complied with the directions issued by NGT and has, with effect from yesterday, 9 May 2017, restarted its manufacturing operations in Gajraula (except the distillery unit). The revenue impact of the distillery operations in financial year ended March (FY 2017) is not significant.
The company said it operates its manufacturing facilities in Gajraula with zero liquid discharge. In 2016, the company's manufacturing facilities in Gajraula were awarded the gold category for their sustainability performance and were rated amongst the top 5% global performers as evaluated by EcoVadis during its latest evaluation.
The company assured that all its manufacturing facilities including those at Gajraula comply with all applicable laws.
On 27 April 2017, Jubilant Life Sciences informed that NGT ordered 13 industrial units situated in Gajraula to immediately cease operations after a hearing on Ganga pollution case.
On a consolidated basis, Jubilant Life Sciences' net profit fell 2.6% to Rs 119.78 crore on 8.7% rise in net sales to Rs 1438.81 crore in Q3 December 2016 over Q3 December 2015.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions. The pharmaceuticals segment, through its wholly owned subsidiary Jubilant Pharma, is engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and contract manufacturing of sterile and non-sterile products through 6 USFDA approved manufacturing facilities in India, USA and Canada.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
