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Futures Trade | A bearish flag or pennant breakdown in Laurus Lab

Moneycontrol Contributor   •

A bearish Marabozu candle exactly at the breakdown indicates a steep fall in Laurus Lab

Laurus Labs | CMP: Rs 444.65 | The share price was down over 15 percent as the company continues to grapple with high industry-wide channel inventory, slower demand and pricing pressure in antiretroviral (ARV) formulations and active pharmaceutical ingredients (APIs), said analysts, as they cut the firm's earnings estimates for FY23 and FY24 by 7-11 percent, according to media reports. Motilal Oswal has cut its EPS estimates by 8 per cent for FY23 and 9 per cent for FY24 to factor in a steep price erosion in ARV products, lesser tender wins in ARV formulation, and increased overall operational cost.

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