ICICI Direct has buy call on with a target price of Rs 406. The current market price of Laurus Labs Ltd. is Rs 370.3.
Laurus Labs Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 19875.75 Crore) operating in Pharmaceuticals sector.
Financials For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1295.35 Crore, up 13.23 % from last quarter Total Income of Rs 1143.96 Crore and up 77.08 % from last year same quarter Total Income of Rs 731.51 Crore. Company reported net profit after tax of Rs 272.85 Crore in latest quarter.
Investment Rationale The brokerage expects the stock extend the current up move and head towards Rs 406 levels as it is the 138.2% external retracement of the recent breather (Rs 386 to Rs 333) signalling upside towards Rs 406 levels
Promoter/FII Holdings Promoters held 46.9 per cent stake in the company as of Dec 30, 2020, while FIIs held 19 per cent, DIIs 21.4 per cent and public and other 12.8 per cent.
