May 20, 2019 / 6:10 AM / 2 months ago

BUZZ-India's Jubilant Life Sciences hits 2-1/2 yrs low on Q4 loss

** Shares of India-based pharmaceutical and life sciences company Jubilant Life Sciences Limited fall as much as 7.6% - lowest since Nov. 2016

** Co posted here March-qtr net loss of 993 mln rupees ($14.3 mln), hit by a one-time loan settlement with International Finance Corporation, resulting in an exceptional item of 2.35 bln rupees

** Life Science Ingredients is adversely impacted by a sudden drop in acetyl prices, leading to a temporary revenue-cost mismatch - Nomura

** Activ Pharmaceutical Ingredients and Generics segments are adversely impacted by U.S. FDA regulatory action - Nomura

** Nomura downgrades co to ‘neutral’ from ‘buy’; cuts PT to 660 rupees from 995 rupees

** Co’s forward PE of 10.17 is lower, compared to sector avg of 14.47

** In comparison, rival Dr.Reddy’s Laboratories Ltd has a forward PE of 25.02, while Aurobindo Pharma Ltd’s forward PE is 15.73

** ($1 = 69.5900 Indian rupees) (Reporting by Harish Bhaskar in Bengaluru)

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