In past one month, Lupin Investments acquired 900,000 shares of Lupin, data shows. Post acquisition, Lupin Investments stake in the company increased to 45.47% from 45.27% at the end of September 2017 quarter.
On December 6, the share price of Lupin hit multi-year low of Rs 807 in intra-day trade after the US Food and Drug Administration (USFDA) on November 7 had issued a warning letter to the company against a violation of current good manufacturing practice norms at two of its manufacturing facilities in Goa and Indore.
During the period, between November 7 and December 6, Lupin had underperformed the market and fell 22% as compared to 3% declined in the S&P BSE Sensex. The stock hit a 52-week high of Rs 1,573 on February 6, in intra-day deal.
At 02:53 PM; Lupin was trading 1.1% higher at Rs 847 against 0.66% decline in the benchmark index. A combined 2.27 million shares changed hands on the counter on the NSE and BSE so far.