Jubilant Life Sciences scrip up nearly 3 per cent after product price hike

MUMBAI: Shares of Jubilant Life Sciences today rose nearly 3 per cent after the company announced it is hiking prices of its Vitamin B3 product Niacinamide with immediate effect. Jubilant Life's stock ended at Rs 211.60, up 2.84 per cent on the BSE. During the day, the scrip surged 6.92 per cent to Rs 220 -- its 52-week high.

At the NSE, the stock settled 2.68 per cent higher at Rs 211. The company is a one amongst the largest manufacturers of Vitamin B3 (Niacin & Niacinamide) in the world.

In a BSE filing, it said the "price increase of 9 per cent for Niacinamide with immediate effect" is for "non-contract customers and wherever existing contracts permit". The company said its nutrition business is backward integrated up to the initial raw material stage with global scale of operation