Lupin gains on CCEA nod to hike in FII limit

The CCEA approved hike in FII investment limit in the company to 49% from 33%

Lupin has gained around 1.8% to Rs 1,540.90 after hitting a record high of Rs 1,545 following the approval from Cabinet Committee on Economic Affairs to raise the aggregate limit of investment by FIIs and their sub-accounts in the company from 33% to 49%.

The approval for increase in foreign investment ceiling of Lupin would result in foreign investment of Rs.6099 crore (approximately) in the country, a government statement said.

The stock opened at Rs 1,532 and has hit a high of Rs 1545, its record-high, till 11:40 hrs while around 41,000 shares have changed hands on BSE.