Laurus Labs jumps 4% on strategic partnership with Global Fund

Laurus Labs shares rallied more than 4 percent intraday Tuesday on signing strategic partnership agreement with Global Fund for three-and-half-year.

The stock was quoting at Rs 389.10, up Rs 14.60, or 3.90 percent on the BSE, at 13:53 hours IST.

Through this long term agreement, Laurus Labs will have the volume commitments from the Global Fund for the treatment of HIV/AIDS, the company said in its filing.

Under this Partnership agreement, Laurus Labs received and executed the order from Global Fund which would cater to the supplies of the high burden diseases countries in Sub Saharan African (SSA) region, it added.

This is the maiden order for Tenofovir/Lamivudine/Dolutegravir 300/300/50mg (TLD) after the company received a tentative approval from USFDA in February 2019.

"For Laurus Labs it is a very significant development which has ventured into the FDFs couple of years ago. This partnership has increased the company's commitment to contribute to the global mission for treating millions of HIV AIDS patients across the globe," Satyanarayana Chava, Founder and CEO, Laurus Labs said. First Published on Mar 26, 2019 02:23 pm

Podcast | Stock picks of the day: Midcap stocks to play catch-up to the heavyweights

Hadrien Mendonca

The market witnessed aggressive short covering on Thursday and once again Nifty50 surpassed the crucial hurdle at 11,530 zone. Going forward, if Nifty manages to close above the 11,600 resistance levels, we could expect the index to rally higher towards its previous all-time high zone.

Bank Nifty has crucial resistance of rising trendline on the larger time frame chart which is around the 30,500 zone.

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Fresh leg of the upswing is likely only if the mentioned resistance is broken on a closing basis. Till then we expect the index to marginally consolidate at the current juncture.

The Nifty Midcap-100 index has broken out from a classic Flag pattern on the daily chart. The index has also surpassed and sustained above its long term 200-DEMA which was around the 17750 zone.

Going forward, we expect the midcap stocks to play catch up to the heavyweights.

Here is a list of top three stocks which could give 7-12% return in the next month:

Syndicate Bank: Buy| Target: Rs 47| Stop Loss: Rs 41.5| Upside 9%

The stock has shown immense strength in the last seven weeks and has rallied significantly. The stock has broken out a fresh from a 'Double Bottom' pattern on the weekly chart. We expect the stock to rally towards its potential target of Rs 47 in the medium-term.

InterGlobe Aviation: Buy| Target: Rs 1540| Stop Loss: Rs 1397| Upside 7%

The stock has been consolidating for the past four trading sessions and has finally broken out from a Pennant pattern on the daily chart.

The price outburst has also been accompanied by a smart uptick in traded volumes. Hold long positions with a stop loss at Rs 1397 on a closing basis.

Dish TV: Buy| Target: Rs 44| Stop Loss: Rs 36.5| Upside 12%

The stock has been under pressure for the past three weeks and is finally on the verge of a falling channel pattern breakout on the daily chart.

Positive crossovers on the RSI and rising volumes further accentuate our bullish stance on the stock. Hold long positions with a stop loss at Rs 36.5 on a closing basis.

(The author is a Senior Technical Analyst, IIFL)

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. First Published on Mar 29, 2019 08:33 am