Laurus Labs bounces 16% from day's low on heavy volumes

The company said its Q3FY22 results were impacted by lower sales of ARV, APIs and formulations due to stocking at channel partners and it expects improvement from January-March quarter (Q4).

Shares of Laurus Labs moved higher by 9 per cent to Rs 504.50, bouncing 16 per cent from their intra-day low on the BSE in Friday’s trade on the back of heavy volumes on a positive outlook.

At 02:43 pm, the stock was trading 8 per cent higher at Rs 501, after hitting a low of Rs 433 earlier in the day. The trading volumes on the counter jumped over two-fold with a combined 9.9 million equity shares having changed hands on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.17 per cent at 57,375