India's J.B. Chemicals jumps after US FDA nod for antidepressant

J B Chemicals and Pharmaceuticals

23/08/2023 08:39

** Shares of J.B. Chemicals & Pharmaceuticals Ltd  JBCH.NS 
rise as much as 5.1% to 2,785 rupees, reversing two sessions of
losses
    ** Active pharmaceutical ingredients (API)-maker says US FDA
approved co's generic drug used for treatment of anxiety and
depression
    ** Drug had estimated annual sales $23.90 mln in the US -
JBCH in a statement
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since May 29, in bullish trend
    ** Trading volume at ~175,400 shares as of 12:40 p.m. IST,
1.5x the 30-day avg of ~118,700 shares 
    ** Average rating of 14 analysts is equivalent of 'buy';
median PT is 2,822 rupees - Refinitiv data
    ** Stock last up ~41.5% so far this year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))