Laurus Labs hits 52-week low, tanks 7% on margin concerns

Laurus has witnessed severe pricing pressure and lower volumes in its ARV formulations portfolio for five quarters now, resulting in significant pressure on core margins, say analyst.

Shares of Laurus Labs hit a 52-week low at Rs 419 as they slipped 7 per cent on the BSE in Tuesday’s intra-day trade in an otherwise firm market on margin concerns. The stock of pharmaceutical company fell below its previous low of Rs 433.20, touched on January 28, 2022.

At 09:43 am; Laurus Labs traded 6.3 per cent lower at Rs 422, as compared to 0.29 per cent rise in the S&P BSE Sensex. The trading volumes at the counter jumped over four-fold with a combined around 3.2 million shares changing hands on the NSE and BSE.