Sharekhan has given Buy recommendation for Laurus Labs with a target price of Rs. 735 in its research report issued on Mar 25, 2022
Sharekhan’s research report on Laurus Labs
Laurus is fortifying its position in FD and synthesis segments, strengthening its presence in non- ARV space and growing in new area of biologics, through Laurus Bio. Strong demand environment well complimented with capacity expansion would drive the growth ahead. Emerging opportunities from patent expiry of drugs in areas of anti-diabetes and cardiology offer significant potential for Laurus and could drive the growth in Other API’s as well as FD’s. Channel de-stocking in the ARV API’s is gradually easing out and normalization is likely by Q1FY23. Management interaction suggests towards a possible sequential improvement in Q4FY22.
We reiterate our Buy recommendation on Laurus Labs (Laurus) with an unchanged PT of Rs. 735.
At 14:12 hrs Laurus Labs was quoting at Rs 592.10, up Rs 2.30, or 0.39 percent.
It has touched an intraday high of Rs 600.00 and an intraday low of Rs 585.45.
It was trading with volumes of 106,011 shares, compared to its thirty day average of 134,730 shares, a decrease of -21.32 percent.
In the previous trading session, the share closed down 2.36 percent or Rs 14.25 at Rs 589.80.
The share touched its 52-week high Rs 720.75 and 52-week low Rs 346.05 on 13 August, 2021 and 25 March, 2021, respectively.
Currently, it is trading 17.85 percent below its 52-week high and 71.1 percent above its 52-week low.
Market capitalisation stands at Rs 31,817.05 crore.