Jubilant Life on the rise

Jubilant Life Sciences is doing pretty well on the bourses today morning. The stock, which had closed yesterday at Rs.335.25, opened at Rs.340 and went on to touch the 5% UC at Rs.352; it remains in the green at Rs.347 levels currently.

Th stock price is reacting to the news tat ace investor, Rakesh Jhunjhunwala has hiked his stake in the company from 3.45% to 4.41%. This was seen in the shareholding pattern which it published yesterday for period ended 31st March 2020.

As per the data, promoters currently hold 50.68%, FIIs hold a healthy 27.91% stake.

In another news, the company, which temporarily suspended operations at its Mysuru pharmaceutical plant last month, after a worker tested positive for coronavirus, has said no trace of the virus has been found in the imported raw material sampled from the facility. The raw material imported from China tested negative for coronavirus at the National Institute of Virology (NIV), Pune

It is also following all protocols for prevention of covid-19, in addition to taking welfare measures for employees and the community, while sharing information with authorities.