Shares of Jubilant Industries opened at 20 percent upper circuit, hitting 52-week high at Rs 139.70 per share. What is driving the euphoria? Porinju V Veliyath, MD & Portfolio Manager at Equity Intelligence India has bought 60000 shares at Rs 100.96 per share.
Jubilant Industries reported a dismal March quarter earnings with a net loss of Rs 54.39 crore for the fourth quarter ended March 2015 as against a net profit of Rs 75.52 crore in the same quarter last fiscal.
Jubilant Industries is the flagship company of agri and performance polymers business of the Jubilant Bhartia group. The company’s portfolio includes a wide range of crop nutrition, crop growth and crop protection agri products and performance polymers products comprising consumer products like adhesives, wood finishes, food polymers and latex such as vinyl pyridine, SBR and NBR latex.
It offers a range of products in crop nutrition, crop growth regulator and crop protection areas under the brand “Ramban”.
At 10:03 hrs Jubilant Industries was quoting at Rs 135.90, up Rs 17.60, or 14.88 percent on the BSE.
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