Hyderabad-based formulations major Laurus Labs has emerged as one of the country's leading manufacturers of active pharmaceutical ingredients (APIs) for anti-retroviral (ARV), Hepatitis C, oncology and other therapeutic segments. Nine out of the 10 largest generic companies in the world are its clients.
However, since the beginning of the year, the stock has lost momentum — coming off 12% against the 3% decline in the Nifty Pharma Index. In fact, with this decline, the stock has given back the gain made in CY17. At its peak in June 2017, the stock had touched Rs.635 but in May this year it traded pretty close to its IPO price of Rs.428, having touched a lo