Lupin extends gains as USFDA concludes inspection of Goa plant

Lupin gained 0.84% to Rs 1,671.15 at 09:53 IST on BSE, after the company's announcement that the inspection carried out by the United States Food & Drug Administration (USFDA) in July 2015 at its Goa facility has been completed.

Meanwhile, the S&P BSE Sensex was down 106.13 points or 0.39% at 27,095.36

On BSE, so far 1.28 lakh shares were traded in the counter as against average daily volume of 1.22 lakh shares in the past one quarter. The scrip hit a high of Rs 1,710 and a low of Rs 1,652.25 so far during the day. The stock hit a record high of Rs 2,127 on 6 October 2015. The stock hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past 30 days till 7 July 2016, rising 15.85% compared with 0.67% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 7.56% as against Sensex's 10.24% rise.

The large-cap company has equity capital of Rs 90.18 crore. Face value per share is Rs 2.

Shares of Lupin had surged 6.25% to settle at Rs 1,657.30 yesterday, 7 July 2016, after the company's announcement that it had received notification that the inspection carried out by the United States Food & Drug Administration (USFDA) in July 2015 at its Goa facility has been completed and that the agency has issued Establishment Inspection Reports (EIR). The announcement was made during trading hours. Lupin, however, cautioned that the responses from the March 2016 USFDA inspection and updates thereafter are still under review by the USFDA.

Lupin's consolidated net profit rose 47.5% to Rs 807.08 crore on 34% growth in net sales to Rs 4091.32 crore in Q4 March 2016 over Q4 March 2015.

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB segment.

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