Why did Laurus Labs rally sharply on the last day of the previous week?

Laurus Labs has had a volatile run in the last few months. On Friday 11-Feb, the stock of Laurus Laboratories rallied 5% to Rs.568 after it reported that it had secured purchase orders from a major global life sciences company. The order was with immediate effect with the supplies to the global company likely to commence from March 2022. However, the execution of these orders were subject to the fulfilment of certain performance obligations.

The stock has been a volatile story in the last one year. IN fact, from the lower levels of January 2022, the stock of Laurus Laboratories is already up 31% from the level of Rs.433. The stock has been a consistent underperformer ever since the stock of Laurus Labs peaked at Rs.724 per share way back in August 2021, amidst a sharp rally. In Q3, Laurus saw revenues fall 20% due to impact of continued stocking related concern in the ARV business.