Laurus Labs slips 5%, hits over 2-year low post December quarter results

Laurus Labs delivered operationally in-line performance, led by healthy traction in CDMO-Synthesis/Non-ARV API segment

Shares of Laurus Labs hit an over two-year low of Rs 324.25 as they slipped 5 per cent on the BSE in Tuesday's intra-day trade after the brokerage firms cut earnings estimate post the company's October-December quarter results.

The stock of the pharmaceutical company was trading at its lowest level since December 2020. In the past three months, it has declined 27 per cent, as compared to 2 per cent fall in the S&P BSE Sensex. Further, in the past six months, the stock has slipped 37 per cent, as against 3 per cent rise in the benchmark index.