Laurus Labs hits 52-week low; slides about 9% in two days

29 Nov 2022 , 12:32 PM

Shares of Laurus Labs have fallen 8.64% in two sessions. The stock hit a 52-week low of Rs 415.25 today, 29 November 2022. The stock hit a 52-week high of Rs 626 on 19 April 2022. The stock had underperformed the market over the past one month, falling 6.27% compared with 4.83% rise in the Sensex. The scrip underperformed the market in past three months, sliding 27.7% as against Sensexs 8.43% rise. The scrip had also underperformed the market in past one year, tumbling 16.99% as against Sensexs 9.77% rise. On the technical front, the stocks daily RSI (relative strength index) stood at 29.15. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 485.57, 512.16 and 531.92, respectively. Laurus Labs to offers a broad and integrated portfolio of Active Pharma Ingredients (API) including intermediates, Generic Finished dosage forms (FDF) and Contract Research services to cater to the needs of the global pharmaceutical industry. On consolidated basis, the companys net profit rose 15.3% to Rs 232.81 crore on 30.9% jump in net sales to Rs 1,575.89 crore in Q2 FY23 over Q2 FY22. Powered by Capital Market – Live News