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Jubilant Life jumps 12.5% as unit signs contracts in US

Shares of Jubilant Life Sciences today surged 12.5% after the company said its subsidiary has signed long-term contracts in the US for supply of some of its diagnostic and therapeutic products.

Following this, the stock zoomed 12.55% to Rs 717.95 on BSE.

At NSE, shares of the company jumped 12.5% to Rs 717.80.

During the morning trade, 5.81 lakh shares of the company were traded on BSE and over 37 lakh shares changed hands at NSE. In a BSE filing, Jubilant Life Sciences said, “Its wholly-owned subsidiary Jubilant Pharma, through one of its units, Jubilant DraxImage Montreal Canada (JDI), has signed long-term contracts with distribution networks in the US for supply of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lungs, kidney and bone scans to be supplied by JDI over 39 months effective January 2017.”