Trending stocks: Laurus Labs shares rise nearly 1%

NEW DELHI: Shares of Laurus Labs Ltd. traded 0.89 per cent up in Tuesday’s trade at 11:32AM (IST). Around 73,610 shares changed hands on the counter.

The stock opened at Rs 525.9 and touched an intraday high and low of Rs 530.0 and Rs 515.0, respectively, in the session so far. Shares of the company of Laurus Labs Ltd. quoted a 52-week high of Rs 587.3 and a 52-week low of Rs 298.0.

Total market cap of the Laurus Labs Ltd. stood at Rs 5580.94 crore at the time of writing this report.

Bluewater Investment sold 12,489,596 shares in Laurus Labs at Rs 506.07 per share, while BNP Paribas Arbitrage, Government Pension Fund Global, and MK Ventures bought 1,500,000 shares, 941,732 shares and 758,000 shares in the company at Rs 504.25, Rs 504 and Rs 508.20 respectively. As at end March, Bluewater Investment held 19.63 per cent stake in the company

Key Financials

The company reported consolidated sales of Rs 839.14 crore for the quarter ended 31-Mar-2020, up 15.02 per cent from previous quarter’s Rs 729.59 crore and up 32.11 per cent from the year-ago quarter’s Rs 635.16 crore.

The net profit for latest quarter stood at Rs 110.15 crore, up 155.1 per cent from the corresponding quarter last year.

Shareholding pattern

As of 31-Mar-2020, domestic institutional investors held 3.86 per cent stake in the company, while foreign institutional investors held 11.29 per cent and the promoters 32.04 per cent.

Valuation ratio

According to BSE data, the stock traded at a P/E multiple of 21.86 and a price-to-book ratio of 3.15. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Laurus Labs Ltd. belongs to the Pharma – Indian industry.