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Lupin pushes Nifty Pharma index higher by 1 percent

Lupin pushes Nifty Pharma index higher by 1 percent

Mumbai : Pharma major, Lupin Limited during morning’s trade was rallying on the bourses, helping the Nifty Pharma to gain over 1 percent in the opening trade, making it the top performing index among other sectoral indices.

The stock was also heavily contributing to the BSE Healthcare index gains by nearly 70%. Followed by Lupin, Dr Reddy’s and Sun Pharma were also pushing the index to higher levels.

Shares of Lupin were trading up by 3.6%, Dr Reddy’s was up by 1.9% and Sun Pharma was up by 1.25% at around 0944 hours.

Other stocks in the sectoral index such as Kopran was up by 3.29%, Marksans was up by 3.24%, Ajanta Pharma was up by 2.4%, Divi’s Labs was up by 1.9% and Glenmark was up by 1.5%.

Meanwhile, IOL Chemical & Pharmaceuticals down by 3.14%, Caplin Point was down by 2.7%, AstaZeneca was down by 1.1%, Hester Biosciences was down by 0.8% and Granules was down by 0.8% at around the time.

Stock view:

Lupin Ltd is currently trading at Rs 1121.2, up by Rs 39.95 or 3.69% from its previous closing of Rs 1081.25 on the BSE.

The scrip opened at Rs 1089.7 and has touched a high and low of Rs 1126 and Rs 1085 respectively. So far 1462349(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 48842.65 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 1750 on 29-Jul-2016 and a 52 week low of Rs 1036.8 on 05-Jul-2017. Last one week high and low of the scrip stood at Rs 1108 and Rs 1036.8 respectively.

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The promoters holding in the company stood at 46.69 % while Institutions and Non-Institutions held 41.24 % and 12.06 % respectively.

The stock is currently trading below its 200 DMA.

Source: Press Release
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