Laurus Labs is currently trading at Rs. 483.60, up by 1.75 points or 0.36% from its previous closing of Rs. 481.85 on the BSE.
The scrip opened at Rs. 488.00 and has touched a high and low of Rs. 495.80 and Rs. 467.70 respectively. So far 116504 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 723.55 on 12-Aug-2021 and a 52 week low of Rs. 266.10 on 20-Nov-2020.
Last one week high and low of the scrip stood at Rs. 499.50 and Rs. 451.95 respectively. The current market cap of the company is Rs. 25858.87 crore.
The promoters holding in the company stood at 27.30%, while Institutions and Non-Institutions held 27.63% and 45.06% respectively.
Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy (ImmunoACT), an advanced cell and gene therapy company to acquire 26.62% stake (fully diluted basis), subject to completion of conditions precedent, for a cash consideration of approximately Rs 46.00 crore. Additionally, senior management of Laurus Labs would also invest in ImmunoACT for a 5.64% stake for approximately Rs 9.75 crore at same price and terms.
This investment provides Laurus an access and entry into an emerging field of research. CAR-T therapy is very promising treatment option which has had great success in the western part of the world. In India, CAR-T therapy is not available and this collaboration will help in bringing this novel technology to the Indian patients at a very affordable pricing.
Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.
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