Multibagger Laurus Lab trades at record highs!

Most of these API companies are turning out to be wealth creators for investors. 

Laurus Lab a multibagger stock that has gained by nearly 100 per cent in 2021 and has jumped by more than 200 per cent in one year is trading at a fresh 52 week high after breaking out from its key resistance levels of Rs 700 per share. The share price of Laurus Lab made an intraday high of Rs 706.20 per share which is also its fresh 52-week high. The shares of Laurus Lab were also seen trading at all time highs on Monday after gaining more than 3 per cent on an intraday basis. 

Laurus Lab is considered an interesting Pharma and API company along with the likes of Granules, Neuland Lab , Medicamen Biotech, Alembic Pharma , Shivalik Rasayan , Marksans Pharma, Natco Pharma, Shilpa Medicare and Aarti Drugs. 

Most of these API companies are turning out to be wealth creators for investors. 

Laurus Lab after trading close to Rs 700 levels on 29 June declined to the levels of Rs 586 per share by 30 July owing to profit booking. The stock since then has sharply bounced back from the key support levels. 

Laurus Lab is now trading above its 20D EMA and 50D EMA, seen gaining with spike in volume. 

BSE Sensex is up by more than 200 points or 0.40 per cent on Monday while Nifty is trading precariously close to 16300 levels, at 16296, up by 57 points on an intraday basis.