Lupin extends Thursday's gains

Lupin rose 1.05% to Rs 899.45 at 14:57 IST on BSE, with the stock extending Thursday's 1.89% gains triggered by the company forming a strategic partnership with MSD to co-market MSD's 23-valent Pneumococcal polysaccharide vaccine for Indian market.

Meanwhile, the S&P BSE Sensex was up 29.01 points or 0.14% at 20,157.42.

On BSE, 71,000 shares were traded in the counter as against average daily volume of 91,129 shares in the past one quarter.

The stock hit a high of Rs 908 so far during the day, which is a record high for the counter. The stock hit a low of Rs 892 so far during the day. The stock had hit a 52-week low of Rs 540.15 on 11 October 2012.

The stock had outperformed the market over the past one month till 18 July 2013, surging 12.64% compared with the Sensex's 4.71% rise. The scrip had also outperformed the market in the past one quarter, jumping 32.69% as against Sensex's 5.85% rise.

The large-cap company has equity capital of Rs 89.56 crore. Face value per share is Rs 2.

Shares of Lupin have risen 2.96% in two trading sessions from a recent low of Rs 873.55 after the company during trading hours on Thursday, 18 July 2013, announced forming a strategic partnership with MSD to co-market MSD's 23-valent Pneumococcal polysaccharide vaccine (PPV) for Indian market. The stock had risen 1.89% to settle at Rs 890.10 on Thursday, 18 July 2013.

Lupin will have a non-exclusive license to market, promote and distribute MSD's 23-valent PPV under a different brand name in India, MSD and Lupin said in a joint statement. MSD is one of the world's leading players in the PPV category.

Lupin's consolidated net profit jumped 162.2% to Rs 408.08 crore on 34.7% growth in net sales to Rs 2537.35 crore in Q4 March 2013 over Q4 March 2012.

Headquartered in Mumbai, Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations and active pharmaceutical ingredients. 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 and Cephalosporin segment.

Powered by Capital Market - Live News