JB Chemicals shares fall over 6% as Torrent makes open offer at 9% discount

JB Chemicals & Pharmaceuticals shares declined after KKR announced the sale of its stake to Torrent Pharma, valuing JB Pharma at Rs 25,689 crore. Torrent plans to merge JB Chemicals and has made an open offer to public shareholders. While Nomura and Motilal Oswal maintained neutral ratings on Torrent Pharma, HSBC reiterated its buy call, citing the acquisition's potential benefits.