Laurus Labs Ltd shares have continued their upward journey in Tuesday’s session to hit a new high of Rs 599, up 5 per cent on the BSE, in an otherwise subdued market. The stock was quoting higher for the eighth straight trading day. In comparison, the S&P BSE Sensex was down 0.17 per cent at 52,237 points in the morning.
Laurus Labs is a leading research-driven pharmaceutical manufacturing company in India. The company has grown to become one of the leading manufacturers of API (Active Pharmaceutical Ingredient) for anti-retroviral (ARV), oncology, cardiovascular, antidiabetics, anti-asthma, and gastroenterology. The company is thriving on growth opportunities in formulation manufacturing to service in all leading markets of North America, Europe, and Low Middle-Income Countries (LMIC). The company is driving growth opportunities in Contract Development and Manufacturing (CDM) through its synthesis business. Most of the company’s manufacturing facilities are approved by major regulatory authorities, USFDA, WHO-Geneva, UK-MHRA, etc.
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In the past three months, the stock of Laurus Labs has outperformed the market by surging 73 per cent after the company’s promoters released most of the pledged shares by selling their stake. In comparison, the S&P BSE Sensex was up 3.7 per cent during the same period. As of March 31, 2021, around 1.15 per cent of the total promoters’ holding were pledged, as compared to 15.76 per cent of the holding pledged at the end of December 2020 quarter, the shareholding pattern data shows.
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