Buy Laurus Labs, target price Rs 470: Motilal Oswal

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Buy Laurus Labs, target price Rs 470:  Motilal Oswal


Motilal Oswal has buy call on Ltd. with a target price of Rs 470. The current market price of Laurus Labs Ltd. is Rs 349.55.

Laurus Labs Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 18778.40 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 1288.42 Crore, up 13.13 % from last quarter Sales of Rs 1138.84 Crore and up 76.60 % from last year same quarter Sales of Rs 729.59 Crore Company reported net profit after tax of Rs 272.85 Crore in latest quarter.

Investment Rationale
The brokerage remains positive on LAURUS on the back of: a) healthy momentum in the ARV segment, b) increased focus on the Synthesis segment, and c) plans to enter new dosages (other than oral solids).

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.





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