Jubilant Life Sciences jumped 5.3 percent to Rs 671.40 on BSE after the company announced signing of long term contracts in radiopharma business.
The announcement was made during market hours today, 4 January 2017.
Meanwhile, the BSE Sensex was up 40.20 points, or 0.15 percent, to 26,683.44.
On the BSE, 90,238 shares were traded in the counter so far, compared with average daily volumes of 1.29 lakh shares in the past one quarter. The stock had hit a high of Rs 674 and a low of Rs 638 so far during the day.
The stock had hit a record high of Rs 726.40 on 1 December 2016. The stock had hit a 52-week low of Rs 272.50 on 20 January 2016. The stock had underperformed the market over the past one month till 3 January 2017, falling 7.75 percent compared with the 1.57 percent rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, declining 2.3 percent as against Sensex's 5.67 percent decline.
The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.
Jubilant Life Sciences announced that its wholly own subsidiary, Jubilant Pharma, through one of its units Jubilant DraxImage Inc. Montreal Canada (JDI), has signed long term contracts with distribution networks in the US.
The contracts are for the supply of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lung, kidney and bone scans to be supplied by JDI over a period of 39 months effective from January 2017.
Commenting on the occasion, Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman and Managing Director, Jubilant Life Sciences said that these contracts provide visibility on company's future revenues with the differentiated and niche products in specialty pharma business and will strengthen the company for its growth, going forward.
On a consolidated basis, net profit of Jubilant Life Sciences rose 14.5 percent to Rs 144.77 crore on 5.2 percent decline in net sales to Rs 1359.70 crore in Q2 September 2016 over Q2 September 2015.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions.
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