Lupin hits record high as FIIs hike stake
FIIs holdings in the pharmaceutical major have increased to 28.8% in March 2013 quarter from 27.76% at the end of December 2012 quarter
Lupin is trading higher by 3% at Rs 662, also its record high, in otherwise weak market after foreign institutional investors (FIIs) holding in the pharma major touched a historic high.
FIIs holdings in pharmaceutical company have increased to 28.8% in March 2013 quarter from 27.76% at the end of December 2012 quarter, the shareholding pattern data shows. FIIs held 27.99% stake in September quarter.
Overseas investors have increased their holdings in the company by over one percentage points during the recently concluded quarter. FIIs have bought 4.66 million shares worth of Rs 279 crore in January-March quarter.
The stock opened at Rs 648 and hit a low of Rs 642 in early morning deals on NSE. A combined 264,928 shares have changed hands on the counter till 1010 hours against an average sub 750,000 shares that were traded daily in past ten trading days on NSE and BSE.
Meanwhile, the stock has outperformed the market by surging 8% so far in current calendar year 2013 compared to 6.4% fall in benchmark Nifty.
FIIs holdings in pharmaceutical company have increased to 28.8% in March 2013 quarter from 27.76% at the end of December 2012 quarter, the shareholding pattern data shows. FIIs held 27.99% stake in September quarter.
Overseas investors have increased their holdings in the company by over one percentage points during the recently concluded quarter. FIIs have bought 4.66 million shares worth of Rs 279 crore in January-March quarter.
The stock opened at Rs 648 and hit a low of Rs 642 in early morning deals on NSE. A combined 264,928 shares have changed hands on the counter till 1010 hours against an average sub 750,000 shares that were traded daily in past ten trading days on NSE and BSE.
Meanwhile, the stock has outperformed the market by surging 8% so far in current calendar year 2013 compared to 6.4% fall in benchmark Nifty.