India's JB Chemical and Pharma drops on report of stake sale by KKR

J B Chemicals and Pharmaceuticals

28/02/2024 10:06

** Shares of JB Chemical and Pharmaceuticals Ltd  JBCH.NS 
end 3% lower at 1,600.2 rupees
    ** Top shareholder KKR mulls selling controlling stake in
co, Bloomberg reports, citing people familiar with the matter
    ** JBCH was down about 0.4% before the report
    ** Co, KKR did not immediately respond to Reuters requests
for comment
    ** KKR via Tau Investment Holdings owns 53.8% stake in co,
stake sale at early stage - report
    ** Eleven analysts tracking JBCH rate it "buy" on avg;
median PT is 1,720.5 rupees - LSEG data
    ** Stock down 5% this month


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))