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Jubilant Lifesciences drops after NGTs order

Jubilant Lifesciences drops after NGTs order

Apr 27,2017

Jubilant Lifesciences and Jubilant Industries separately made announcements in this regard before market hours today, 27 April 2017.

Meanwhile, the S&P BSE Sensex was down 37.72 points or 0.11% at 30,100.58.

On the BSE, 56,744 shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past one quarter. The stock had hit a high of Rs 778 and a low of Rs 761 so far during the day.

The stock had hit a record high of Rs 879.10 on 12 April 2017 and a 52-week low of Rs 294.20 on 24 June 2016.

The stock had underperformed the market over the past one month till 26 April 2017, rising 0.17% compared with the Sensexs 2.42% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 10.4% as against the Sensexs 8.75% rise.

The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Rs 1.

Jubilant Lifesciences said that the National Green Tribunal (NGT) in a hearing on 26 April 2017, in a case relating to the pollution of the river Ganga and drainage canals leading into the river Ganga, has, by way of an oral pronouncement, ordered 13 industrial units situated in Gajraula near the river Bagad to immediately cease operations.

The order of the NGT applies to the companys units in Gajraula. The units belong to Jubilant Agri & Consumer Products (JACPL), Jubilant Industries wholly owned material subsidiary.

A committee has been set up by the NGT to inspect amongst other things, the discharge of effluents by the affected industrial units and to provide a report. Each industry has been given an opportunity to respond to the report with an action plan to resolve any deficits identified by the committee, in order to resume operations, within a week of submission of the report.

While a written order of the NGT is awaited, JACPL will comply with the oral order of the NGT and will file its response to the report as submitted by the committee, along with an action plan to resolve deficits identified by the committee, if any, before the NGT shortly.

JACPL is environmentally conscious and as a good corporate citizen, is taking all necessary steps in this regard. JACPL operates its manufacturing facilities in Gajraula with zero liquid discharge and in compliance with all applicable laws and it is confident of meeting any requirements that the NGT may prescribe and resuming operations of its industrial units at Gajraula at the earliest, it added.

Meanwhile, shares of Jubilant Industries dropped 1.32% to Rs 314.50.

Jubilant Life Sciences consolidated net profit fell 2.6% to Rs 119.78 crore on 8.7% rise in net sales to Rs 1438.81 crore in Q3 December 2016 over Q3 December 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions. The pharmaceuticals segment, through its wholly owned subsidiary Jubilant Pharma, is engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and contract manufacturing of sterile and non-sterile products through 6 USFDA approved manufacturing facilities in India, USA and Canada.

The life science ingredients segment, is engaged in specialty intermediates, nutritional products and life science chemicals through 5 manufacturing facilities in India. The drug discovery solutions segment, provides proprietary in-house innovation & collaborative research and partnership for out-licensing through 3 world class research centres in India and USA.

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JHS Svendgaard Laboratories allots 4.40 lakh equity shares
May 23,2017

JHS Svendgaard Laboratories has allotted 4.40 lakh equity shares on conversion of equivalent convertible warrants on 23 May 2017.

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Bombay Burmah Trading Corporation allots NCDs aggregating Rs 150 crore
May 23,2017

Bombay Burmah Trading Corporation has allotted 1500 secured, redeemable, Non Convertible Debentures of face value of Rs 10 lakh each aggregating Rs 150 crore on private placement basis on 23 May 2017.

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Voltas appoints director
May 23,2017

The Directors of Voltas have at the Board Meeting held on 23 May 2017, approved the appointment of Hemant Bhargava as Additional Director of the Company representing Life Insurance Corporation of India with effect from 23 May 2017.

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Board of Voltas approves proposal for JV with Arcelik
May 23,2017

The Board of Directors of Voltas at its meeting held on 23 May 2017 has approved a proposal to enter into joint venture arrangement with Arcelik A.S, a company incorporated in Istanbul, Turkey, for establishing a joint venture company, to tap the fast growing consumer durables market in India. The proposed JVC to be incorporated would be engaged in the business of refrigerators, washing machines, microwaves and other white goods/ domestic appliances in India.

The JVC will have an equity capital of USD 100 million, and Tata Investment Corporation (TICL) and Kon++ Holding (KOn++) will also hold 1% equity stake each, in the new Joint Venture.

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Outcome of board meeting of Frontier Informatics
May 23,2017

The Board of Directors of Frontier Informatics at its meeting held on 23 May 2017 transacted the following -

In the matter of Reduction of capital, the Benepose Reports as of 15th May, 2017, the record date, and detailed workings relating to allotment of shares in accordance with the Scheme for Reduction of Capital approved by Honble High Cort of Teleangana and Andhra Pradesh, are placed before the Board and the Board have approved the list of share holders, who will be issued with new shares as per the said scheme.

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Indo-Global Enterprises appoints company secretary
May 23,2017

Indo-Global Enterprises has appointed CS Khushboo, as a Company Secretary and Key Managerial Person and further as a Compliance Officer of the company at the Board Meeting held on 22 May 2017.

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Clariant Chemicals (India) to pay final dividend
May 23,2017

Clariant Chemicals (India) announced that Final Dividend, if approved at the ensuing Annual General Meeting, shall be paid on or after 17 August 2017.

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Outcome of board meeting of JHS Svendgaard Laboratories
May 23,2017

JHS Svendgaard Laboratories announced that the Board of Directors of the Company at its meeting held on 23 May 2017 has transacted the following -

Taken note of change in name of subsidiary company from JHS Svendgaard Dental Care to JHS Svendgaard Brands.

The Board also reviewed capital expenditure on capacity creation. The Company is investing Rs 30 crore in capital equipment(s) and is investing towards setting up additional manufacturing unit.

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Tube Investments of India allots 9000 equity shares
May 23,2017

Tube Investments of India has allotted 9000 equity shares under ESOP.

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Cerebra Integrated Technologies to start operations of its E-Waste recycling plant
May 23,2017

Cerebra Integrated Technologies announced that Karnataka State Pollution Control Board has issued its consent to the Company to start production for its E-Waste recycling plant setup on a 12 acre land at Narsapura Industrial Area, Old Madras Road; its operations will include dismantling and segregation of E-Waste for recovery of precious metals like Gold, Silver, Platinum, Palladium and Rhodium.

Further, the Company has received all the necessary approvals and will be commencing operations with immediate effect. This integrated E-Waste recovery facility will facilitate complete recovery of the E-Waste, Data Wiping and Destruction Services, Repair, Refurbishing and Re-Marketing Services as also full-fledged Asset management services.

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National Fertilizer appoints director
May 23,2017

National Fertilizer announced that Dr. Kalpana Saini has been appointed as Part-time Non-official Independent Director on the Board of the Company w.e.f. 18 May 2017.

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DLF allots 18,483 equity shares
May 23,2017

DLF has allotted 18,483 equity shares under ESOP on 23 May 2017.

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Insecticides India gets reaffirmation of ratings for bank facilities
May 23,2017

Insecticides India announced that CRISIL has reaffirmed the credit rating for bank facilities as under -

Long term ratings - CRISIL A/Stable
Short term ratings - CRISIL A1

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Phoenix Mills hike stake in Offbeat Developers
May 23,2017

Phoenix Mills has acquired 1,691,270 equity shares of Offbeat Developers (ODPL) held by HBS Realtors representing 5.36% of total equity shareholding for a total consideration of Rs. 29.28 crore on 22 May 2017. Consequent upon the aforesaid acquisition, the shareholding of the Company in ODPL has increased from 83.59% to 88.95%.

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Mangalore Chemicals & Fertilizers gets revision in ratings for credit facilities
May 23,2017

Mangalore Chemicals & Fertilizers announced that CARE has revised the long term rating to CARE BBB; Stable from CARE BBB-; Stable and long/ short term rating to CARE BBB; Stable/ CARE A3 from CARE BBB-; Stable/ Care A3.

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