Jubilant Pharmova continued its 11-session winning streak on the bourses as it jumped up over 5% on Thursday morning to hit an intraday high of ₹393. Rekha Jhunjhunwala owns a 6.76% stake in the company.
Shares of the company recovered after a brief spell of slump it witnessed as it reported its earnings for the quarter ended March. The company’s revenue from operations for the January-March period stood at ₹1,678, up 10.8% from the year-ago period. However, the company’s losses widened to ₹97.8 crore as compared to ₹15.7 crore in the December quarter.
The stock has managed to stay strong, as shares of the company have gone up close to 10% in the past month. So with the surge today, here’s how this pharma stock added ₹ crore to Jhunjhunwala’s net worth today.
She owns 6.76% or 1.07 crore shares of the company. On Wednesday, when the stock closed at ₹373.95, the value of her stake was at ₹402.7 crore. Today, with the surge, the value of her shares went up to ₹423.2 crore.
Price Action: Jubilant Pharmova’s share price was up 3.24% to trade at ₹386.05 in the mid-market hours of trading on Thursday.
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