Jubilant Life Sciences surged 7.24% to Rs 151.85 at 13:08 IST on BSE after the company said it has increased the price of Niacin feed-grade by 18% with immediate effect for non-contract customers and wherever existing contracts permit.
The announcement was made during trading hours today, 13 March 2014.
Meanwhile, the S&P BSE Sensex was up 83.01 points or 0.36% at 21,939.23.
On BSE, so far 2.65 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares in the past two weeks.
The stock hit a high of Rs 153 and a low of Rs 139.25 so far during the day.
The stock had outperformed the market over the past one month till 12 March 2014, surging 7.52% compared with the Sensex's 6.88% rise. The scrip had also outperformed the market in past one quarter, jumping 21.55% as against Sensex's 4.45% rise.
Jubilant Life Sciences' consolidated net profit spurted 437.4% to Rs 143.43 crore on 10.2% growth in net sales to Rs 1427.65 crore in Q3 December 2013 over Q3 December 2012.
Jubilant Life Sciences is a global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and life science ingredients. It also provides services in contract manufacturing of sterile injectables and ointments, creams and liquids and drug discovery and development.
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