{"id":113478,"date":"2023-11-09T15:08:38","date_gmt":"2023-11-09T09:38:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=113478"},"modified":"2023-11-09T15:25:42","modified_gmt":"2023-11-09T09:55:42","slug":"pharma-stock-jumps-5-after-board-sets-aside-up-to-rs-1500-cr-for-acquisition","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-5-after-board-sets-aside-up-to-rs-1500-cr-for-acquisition\/","title":{"rendered":"Pharma stock jumps 5% after board sets aside up to \u20b9 1,500 Cr for acquisition\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3021847462\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of this midcap company jumps 5 percent after the company decided to set aside 1,500 crores for for acquisitions in the near-to-medium term to grow the company\u2019s India and contract development businesses.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1723367339\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs. 22,665 crores, the shares of JB Chemical and Pharmaceuticals Ltd opened today\u2019s trading session on a positive note. The share opened at Rs. 1,490 and hit a high of Rs. 1,536.25 making a gain of around 5 percent which is also recorded as the company\u2019s fresh 52-week high.<\/p><p>According to reports, the company\u2019s board has decided to set aside up to Rs.1,500 crore for acquisitions in the near-to-medium term to grow the company\u2019s contract development businesses. Furthermore, they mentioned that there is no set amount for acquisitions, but they can go up to leveraging 1.5 times EBITDA, which is close to Rs. 1,500 crore.<\/p><p>The company recently released its June-September results. The company\u2019s revenue marginally declined by 1.5 percent from Rs. 896 crores during the June quarter to Rs. 882 crores in September. On a contrasting note, the net profit increased by 6 percent from Rs. 142 crores to Rs. 150 crores during the same time horizon.<\/p><div class=\"trade-content_5\" id=\"trade-814767971\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Comparing these metrics on a YoY basis, the revenue jumped by 9 percent from Rs. 809 crores in Q2 FY23 to Rs. 882 crores in Q2 FY24. In addition, the net profit zoomed by 36 percent from Rs. 111 crores to Rs. 150 crores during the same period.<\/p><p>Looking at the important financial ratios, the return on equity was at 18.51 percent during FY22-23 and the return on capital employed was recorded at 22.79 percent in the same timeframe.<\/p><p>According to the latest shareholding pattern, Promoters have a 53.88 percent stake in the company, the Public or Retail Investors have 17.51 percent shares, DIIs have a considerable stake of 18.58 percent in the company, and the remaining 10.05 percent is with FIIs.&nbsp;<\/p><p>Headquartered in Mumbai, JB Chemical and Pharmaceuticals Ltd was incorporated in the year 1976. The Company is engaged in the business of manufacturing and marketing of diverse range of pharmaceuticals formulations herbal remedies and APIs. The company has manufacturing units at Thane, Belapur Ankleshwar Panoli, and Daman.&nbsp;<\/p><p><strong>Written By vaibhav Patil <\/strong>&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-1977540118\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of this midcap company jumps 5 percent after the company decided to set aside 1,500 crores for for acquisitions in the near-to-medium term to grow the company\u2019s India and contract development businesses.&nbsp; With a market capitalization of Rs. 22,665 crores, the shares of JB Chemical and Pharmaceuticals Ltd opened today\u2019s trading session on [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-113478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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