Laurus Labs hits fresh record high on expectation of strong earnings

Analysts believe Laurus is well poised to follow the success story of some leading CDMO players backed by strong chemistry and integrated model

Shares of Laurus Labs hit a fresh record high of Rs 1,387.50, up 3 per cent on the BSE on Thursday on expectation of strong earnings in July-September quarter (Q2FY21). The stock of the pharmaceutical company was trading higher for the ninth straight day, ralling 17 per cent during the period. In the past three months, it has surged 171 per cent, as against 16.6 per cent gain in the S&P BSE Sensex.

For April-June 2020 quarter (Q1FY21), Laurus Labs posted consolidated revenue of Rs 974 crore, up 77 per cent year-on-year (YoY) while earnings before interest, taxes, depreciation, and amortisation