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Laurus Labs gains 7% in two days on acquisition of Richcore Lifesciences

Motilal Oswal Securities maintains 'buy' rating on Laurus Labs with target price of Rs 410 per share

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SI Reporter Mumbai

2 min read Last Updated : Nov 27 2020 | 10:31 AM IST

Shares of Laurus Labs rose 4 per cent at Rs 305 on the BSE on Friday, gaining 7 per cent in the past two trading days after the company said it has signed a definitive agreement to acquire a majority stake in Richcore Lifesciences Pvt Ltd (Richcore). The stock of the pharmaceutical company was trading at its highest level since November 2, 2020.

“Laurus Labs has signed a definitive agreement to acquire 72.55 per cent of Richcore’s shares from Eight Roads Ventures and VenturEast for a value of Rs. 246.7 crore,” the company said in a press release on

Topics : Laurus Labs Buzzing stocks Markets

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