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Laurus Labs hits record high; adds 26% in ten days

Capital Market 

Laurus Labs jumped 5.74% to Rs 1486.20, extending gains for tenth consecutive session.

The stock has added 25.71% in ten sessions from its recent closing low of Rs 1,182.20 on 4 September 2020.

The scrip jumped as much as 8.14% at the day's high at Rs 1,520, which is also a record high for the counter.

Shares of Laurus Labs have surged 389.36% from its 52-week low of Rs 303.7 hit on 15 October 2019.

Laurus Labs researches, develops, and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C. The drug maker serves customers worldwide.

The company's consolidated net profit surged 1,037.61% to Rs 171.78 crore on 76.96% spurt in revenue from operations to Rs 974.32 crore in Q1 June 2020 over Q1 June 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, September 18 2020. 14:18 IST