Moneycontrol PRO

Buy Laurus Labs; target of Rs 735: Sharekhan

Sharekhan is bullish on Laurus Labs has recommended buy rating on the stock with a target price of Rs 735 in its research report dated July 28, 2022.

July 31, 2022 / 02:42 PM IST
Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Laurus Labs


Laurus Labs Limited (Laurus) reported healthy numbers in Q1FY23 that beat estimates, driven by impressive growth of the synthesis division.Revenue growth stood strong at 20.4% y-o-y, while reduction of tax sops drove up tax rate. Thus, PAT growth slowed down to 4.5%. Based on encouraging growth prospects, that are well-supported by capacity expansion plans, the management has retained its revenue guidance of $1 billion by FY2023E, that bodes well from a growth perspective. Laurus has retained its capex guidance of Rs 2000 crore over the next two years with half of the capex directed towards synthesis segment, while the balance would cater to other segments.


Outlook


We retain a Buy on Laurus with an unchanged PT of Rs. 735.


For all recommendations report, click here

Close

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Laurus Labs - 290722 - khan

Broker Research
first published: Jul 31, 2022 02:39 pm
Sections
ISO 27001 - BSI Assurance Mark