Shares of pharmaceutical company Laurus Labs Ltd. extended their momentum on Tuesday, rising 2.29% to touch a fresh 52-week high of Rs 1,752 apiece on the BSE following the company's strong financial performance for the June quarter of FY27.
The stock has gained approximately 10% over the past five trading sessions. It has surged 94.43% during the last 12 months and advanced 56.09% on a year-to-date basis.
Trading activity in the stock also remained elevated, with the total volume traded during the session reaching 2.53 times its 30-day average. Its Relative Strength Index stood at 71.46 which reflected strong buying momentum.
The rally followed Laurus Labs' announcement of its highest-ever quarterly revenue. The performance was supported by an improved business mix, a higher contribution from its Contract Development and Manufacturing Organisation business, and better capacity utilisation.
For the June quarter, the company's consolidated revenue increased 29% year-on-year to Rs 2,026 crore, compared with Rs 1,570 crore in the corresponding quarter of the previous financial year.
Earnings before interest, tax, depreciation and amortisation rose 67% to Rs 638 crore from Rs 382 crore. The Ebitda margin expanded sharply to 31.5%, up from 24.3% in the year-ago quarter. The net profit more than doubled to Rs 368 crore, compared with Rs 163 crore reported during the same period last year.
Laurus Labs Ltd. Share Price Today
Laurus Labs Ltd. Share Price Today
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The scrip rose as much as 2.29% to Rs 1,752.70 apiece on Tuesday at 10:45 a.m. This compares to a 0.15% rise in the NSE Nifty 50 index.
Out of 19 analysts tracking the company, 11 maintain a 'buy' rating, four maintain a "hold", and four maintain a "sell" rating, according to Bloomberg data. The average 12-month consensus price target of Rs 1,630.33 implies a downside of 6.2%
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