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%

Image
SI Reporter Mumbai
Last Updated : Jan 29 2015 | 11:58 AM IST

Don't want to miss the best from Business Standard?

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.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 29 2015 | 11:40 AM IST

Next Story