Lupin has moved higher by over 2.4% at Rs 911, also its new high on BSE, after the overseas investors raise their holding in the pharmaceutical company third quarter in a row.
The foreign institutional investors (FIIs) have increased their stake in Lupin by nearly one percentage points to 31.45% in September 2013 quarter.
FIIs raised their holdings in the company by 4 percentage points so far in the current calendar year 2013. The overseas investors held 27.76% stake in the company in December 2012 quarter.
The board had already approved the increase in the limit of investments by FIIs in the equity share capital of the company from 33% to 49%, subject to regulatory approval.
Meanwhile, the stock is one of the major outperformer in the market, surge 49% so far in current calendar year compared to less than 3% rise in benchmark index and 20% rise in healthcare index.
Today, the stock opened at Rs 890 and hit a low of Rs 889 so far. A combined 376,073 shares have changed hands on the counter till 1020 hours on BSE and NSE.
The foreign institutional investors (FIIs) have increased their stake in Lupin by nearly one percentage points to 31.45% in September 2013 quarter.
FIIs raised their holdings in the company by 4 percentage points so far in the current calendar year 2013. The overseas investors held 27.76% stake in the company in December 2012 quarter.
The board had already approved the increase in the limit of investments by FIIs in the equity share capital of the company from 33% to 49%, subject to regulatory approval.
Meanwhile, the stock is one of the major outperformer in the market, surge 49% so far in current calendar year compared to less than 3% rise in benchmark index and 20% rise in healthcare index.
Today, the stock opened at Rs 890 and hit a low of Rs 889 so far. A combined 376,073 shares have changed hands on the counter till 1020 hours on BSE and NSE.