LIC hikes stake in Lupin
Life Insurance Corporation of India (LIC) added 2.019% stake in Lupin via open market purchase between 16 March 2021 to 14 June 2021.
Following the transaction, LIC has increased its stake in the drug major to 6.629% from 4.610% held earlier.
The drug major's consolidated net profit jumped 18.7% to Rs 464.37 crore on 0.8% fall in net sales to Rs 3,759.27 crore in Q4 March 2021 over Q4 March 2020. Lupin is an innovation-led transnational pharmaceutical company.
Shares of Lupin rose 0.30% to Rs 1,190.25 on BSE. The scrip hovered in the range of Rs 1,181.85 to Rs 1,197 so far.
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First Published: Jun 16 2021 | 10:05 AM IST