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Laurus Labs gains 7% in two days on acquisition of Richcore Lifesciences

Motilal Oswal Securities maintains 'buy' rating on Laurus Labs with target price of Rs 410 per share

The company’s patented technology solution uses cryptography and AI through which any information can be encrypted on surfaces including plastic, aluminium foil and cardboard
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The company’s patented technology solution uses cryptography and AI through which any information can be encrypted on surfaces including plastic, aluminium foil and cardboard

SI Reporter Mumbai
Shares of Laurus Labs rose 4 per cent at Rs 305 on the BSE on Friday, gaining 7 per cent in the past two trading days after the company said it has signed a definitive agreement to acquire a majority stake in Richcore Lifesciences Pvt Ltd (Richcore). The stock of the pharmaceutical company was trading at its highest level since November 2, 2020.

“Laurus Labs has signed a definitive agreement to acquire 72.55 per cent of Richcore’s shares from Eight Roads Ventures and VenturEast for a value of Rs. 246.7 crore,” the company said in a press release on

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First Published: Nov 27 2020 | 10:22 AM IST

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