India's JB Chemicals hits record high on earnings boost

J B Chemicals and Pharmaceuticals

09/11/2023 06:19

** Shares of JB Chemicals and Pharmaceuticals  JBCH.NS  rise
as much as 4.60% to a record high of 1,529.50 rupees 
    ** Pharma co posts 36% Y/Y rise in net profit to 1.51 bln
rupees ($18.14 mln) in Sept-quarter; rev from ops up 9% 
    ** Strong India and contract development and manufacturing
organisation (CDMO) outlook are key positives for JBCH -
Jefferies
    ** Raises TP to 1,680 rupees from 1,555 rupees, implying 16%
upside for stock in next 12 months
    ** Trading volume is twice as much as 30-day avg, as of
11:37 a.m. IST - LSEG data
    ** Of 13 analysts tracking JBCH, five maintain "strong buy",
six "buy" and two "hold"; median TP is 1,508.75 rupees
    ** JBCH up 57% YTD, including today's gains


($1 = 83.2550 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))