Multibagger Laurus Labs builds on its stupendous gains; trades at life highs!

Laurus Lab soared on bourses on Friday as overall the markets show positive gains. Laurus Lab was trading with gains in excess of 4 per cent after the stock made an intraday high of Rs 682.80 per share.

The stock is soaring on bourses as the CARE upgraded Laurus Lab’s long term banking facilities of Rs 1,939.64 crore (Enhanced from Rs 1,291.81crore). CARE upgraded the banking facility to CARE AA; stable from CARE AA-.  The rating on short term bank facilities has also been enhanced and reaffirmed at CARE A1+. CARE A1+ rating has been assigned for the Commercial Paper of Rs 200 crore.

Markets gave a thumbs up to the improvement in the ratings for Laurus Lab which also reflects the company’s improving profitability and opportunities. ​Laurus Lab is up by more than 500 per cent in one year making it a six bagger in such a short time. The stock has gained by more than 86 per cent on YTD basis. In one month alone the stock has jumped by more than 25 per cent.

Laurus Labs is an Indian pharma and biotech company headquartered in Hyderabad, with its manufacturing plants located at Visakhapatnam, Hyderabad and Bengaluru. Its focus areas include active pharma ingredients, finished dosage forms, synthesis and biotechnology.