The stock of Jubilant Life Sciences was down over 6 per cent after the company reported muted June quarter results and valuation concerns after the recent rally. Prior to the correction on Monday, the stock had gained over 46 per in the last three months.
The immediate trigger for the slide is the disruption caused by the coronavirus (Covid-19) pandemic, suspension of operations and weak show in key segments. Overall sales were down 13 per cent due to weakness in pharma as well as Life Science Ingredient (LSI) businesses. Within the pharma segment, which accounts for around 58 per ...
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