Laurus Labs Hits New 52-Week High at Rs. 972.6
Laurus Labs has achieved a new 52-week high, reflecting a substantial 95.24% increase over the past year, significantly outperforming the Sensex. The company reported impressive net profit growth and has consistently delivered positive results, maintaining a strong market position in the pharmaceuticals and biotechnology sector.
Laurus Labs has reached a significant milestone today, hitting a new 52-week high of Rs. 972.6. This achievement comes after a period of strong performance, with the stock demonstrating a remarkable 95.24% increase over the past year, significantly outperforming the Sensex, which has risen by only 6.58% in the same timeframe. Despite today's performance indicating a slight underperformance against its sector by -0.67%, Laurus Labs has shown resilience, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The stock's journey to this new high reflects its robust financial health, highlighted by a staggering 993.4% growth in net profit reported in September.
Additionally, the company has consistently delivered positive results over the last four quarters, with a notable increase in profit before tax and profit after tax. With high institutional holdings at 37.63%, Laurus Labs continues to maintain a strong market position within the pharmaceuticals and biotechnology industry. The stock's previous 52-week low was Rs. 474.25, marking a significant recovery and growth trajectory.
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