Jubilant Life Sciences raises almost Rs. 90 Crore via Commercial Papers:
Jubilant Life Sciences: Jubilant Life Sciences Limited is an Integrated Global Pharmaceutical and Life Sciences Company. The Company is well recognized as a “Partner of Choice” by leading pharmaceuticals and life sciences companies worldwide. It provides services in Pharmaceuticals, Life Science Ingredients, Drug Discovery & Development Solutions, and India Branded Pharmaceuticals. The company has almost 8,000 multicultural people across the globe. The company has almost 11 manufacturing facilities out of which 7 located in India, 2 in Canada, and 2 in the USA. The Company has World-Class Research Centres in India and the USA. The present chief executive officer (CEO) of the company is Dr Syed Kazmi.
On Wednesday, the Drug manufacturing firm decided to raise almost Rs. 90 crore by issuing commercial papers of the company. The Tenure of the instrument is 53 days and the date of maturity is January 18th, 2021, said the company in a regulatory filing.
Whereas, the Commercial Paper (CP) enables high rated corporate borrowers to diversify their sources of short-term borrowings. It also provides an additional instrument for the investors. While the financial institutions also permitted to issue commercial paper (CP) to enable them to meet their short-term funding requirements. On the other side, it is an unsecured money market instrument issue in the form of a promissory note.
However, the Shares of Jubilant Life Sciences Limited on Wednesday reported a bearish trend in the stock market. It lost -10.20 points with a 1.25% decrease and reached 804.50 INR. While in BSE, the company lost -10.90 points with a 1.34% decrease and reached 803.60 INR.
Stock Market on December 16th:
On Wednesday, both Sensex and Nifty continue their bullish trend from the last two sessions of the stock market. However, the Sensex is trading above 46,600 levels and the Nifty is trading above 13,600 levels in the stock market. The Sensex gained 403.29 points with a 0.87% increase and reached 46,666.46 levels. While the Nifty gained 114.85 points with a 0.85% increase and reached 13,682.70 levels.
On the other side, the number of coronavirus cases in India reached 99,32,547 with almost 1,44,096 deaths.
In the border markets, the S&P BSE SmallCap reported a bullish trend in the stock market. It gained 155.96 points with a 0.88% increase and reached 17,852.13 levels. The S&P BSE MidCap gained 154.04 with a 0.87% increase and reached 17,887.91 levels. While the Nifty Bank gained 7.35 points with a 0.02% increase and reached 30,698.40 level.
Top Gainers on December 16th: HDFC, Hindalco Industries, Divi’s Laboratories, ONGC, and Titan Company are the top gainers in today’s stock market.
Top Losers on December 16th: ICICI Bank, NTPC, UltraTech Cement, GAIL India, and Tech Mahindra are the top losers in today’s stock market.