After block deal on NSE, Jubilant Life falls 10%
On Friday, it seems that the shares of Jubilant Life fell around over 10 percent intraday. It was due to the block deal witnessed by stock. On NSE, approximately, 59.8 lakh shares of the company were traded in six blocks. The price per share is of Rs 914-940.05. On valuation, this makes up around 3.8 percent of the equity and the deal value is at Rs 554.3 crore.
Recently, it was observed that the company name was in the news but not for good reason. Behind the news, matter was that Sebi imposed a total fine of Rs 50 lakh on Jubilant Life Sciences and on its three promoter entities along with a director. SEBI charged the company with this heavy penalty because it has violated the norms pertaining to price sensitive information.
On the other side, the company had a robust December quarter show that represents the stock touching a fresh 52-week high in January. In the past 15 days, the stock has registered over 10 percent fall. If we talk about the last three days, then the loss stood at 4 percent.
On BSE, at 11:36 hrs Jubilant Life Sciences was quoting at Rs 897.05, down Rs 95.10, or 9.59 percent. The share touched an intraday high of Rs 974.00 and an intraday low of Rs 888.00.