Jyothy Labs share jumps on launching hand sanitiser

The shares of Jyothy Laboratories Ltd jumped on Wednesday after the company announced that it has launched a hand sanitiser under the brand name-Margo.

In a BSE filing made on Tuesday after the market hours, the company informed that it has launched Margo hand sanitiser, an alcohol-based neem extract, which guarantees 99.9 per cent germ kill. The product is available in 40 ml SKU, priced at Rs 20.

This comes amid the recent announcement of World Health Organisation (WHO) which had released a circular regarding the prevention strategies to combat COVID-19. It recommended people to wash their hands repeatedly or use sanitiser if they are travelling and cannot carry soap & water all the time. Soon after this, there was a massive demand of sanitisers in the market, leading to a huge price rise of the product and less supply in the market. Jyothy Laboratories had recently forayed into the hand-wash segment and thus, launched this product in an affordable price as it was the need of the hour.

Jyothy Labs Ltd is Mumbai-based fast-moving consumer goods company, founded in 1983. The company has six business divisions namely-fabric care (Ujala as market leader), household insecticide (Maxo), utensil cleansers (Exo), fragrances, personal  care (Margo) and fabric care service.

At 1.03 pm on Wednesday, the stock of Jyothy Labs Ltd is trading at Rs 116.40, up by 3.33 per cent against its previous close of Rs 112.65. Its 52-week high is Rs 185.00 while, its 52-week low is Rs 86.20 on BSE.