Laurus Labs hits the roof ahead of record date for stock split

Laurus Labs hit an upper circuit of 10% at Rs 1459.80 ahead of the companys record date for 5-for-1 stock split on Wednesday, 30 September 2020.

Sep 28, 2020 09:09 IST capital market

On 30 April 2020, the company announced its plan to split each share of face value of Rs 10 each into five shares of face value Rs 2 each. The ex-date for the stock split is on Tuesday, 29 September 2020 and the record date is on Wednesday, 30 September 2020.

Laurus Labs researches, develops, and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C. The drug maker serves customers worldwide.

The pharma companys consolidated net profit surged 1,037.61% to Rs 171.78 crore on 76.96% spurt in revenue from operations to Rs 974.32 crore in Q1 June 2020 over Q1 June 2019.

In the past six months, the stock has zoomed 346.49% while the benchmark S&P BSE Sensex gained 27.25% during the same period.

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