India's Laurus Labs soars most in 6 months on Q3 profit jump

Laurus Labs

30/01/2023 07:13

** Shares of Indian pharma firm Laurus Labs Ltd  LAUL.NS 
rise as much as 5.3% to 360 rupees, their biggest intraday pct
gain since July 27, 2022
    ** Laurus on Monday reports a 32.1% jump in third-quarter
profit, helped by nearly 1.5x jump in revenue on strong demand
for drug ingredients
    ** Stock hits highest level since Jan 16, among top gainers
on Nifty Pharma Index  .NIPHARM 
    ** More than 2.17 mln shares change hands, 1.4x their 30-day
avg volume
    ** Six of the 11 analysts covering the stock have a "buy" or
"strong buy" rating, three have "hold" while two rate it at
"sell" or "strong sell"; median PT is 500 rupees - Refinitiv
data
    ** Stock lost 30.4% in 2022
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))