Lupin rose 1.22% to Rs 1,482 at 12:01 IST on BSE on reports a government panel has cleared the company's request to raise foreign investment limit in the firm.
Meanwhile, the BSE Sensex was up 96.72 points, or 0.34%, to 28,431.35
On BSE, so far 54,453 shares were traded in the counter, compared with an average volume of 62,291 shares in the past one quarter.
The stock was volatile. The stock hit a record high of Rs 1,500 in intraday trade today, 24 November 2014. The stock hit a low of Rs 1,460.10 so far during the day. The stock hit a 52-week low of Rs 841.10 on 21 November 2013.
The stock had outperformed the market over the past one month till 21 November 2014, rising 7.04% compared with the Sensex's 6.62% rise. The scrip also outperformed the market in past one quarter, gaining 18.26% as against Sensex's 7.49% rise.
The large-cap company has an equity capital of Rs 89.82 crore. Face value per share is Rs 2.
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Reports indicated that Lupin was looking to increase the foreign investment limit in the firm to 49%. Foreign institutional investors owned 31.75% stake in the firm as at 30 September 2014.
On a consolidated basis, Lupin's net profit rose 55.1% to Rs 630.04 crore on 19.4% rise in total income to Rs 3283.64 crore in Q2 September 2014 over Q2 September 2013.
Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs. 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. Lupin is the 5th largest and fastest growing top 5 generics player in the US (5.3% market share by prescriptions, IMS Health) and the third largest Indian pharmaceutical company by sales. The company is also the fastest growing top 10 generic pharmaceutical players in Japan and South Africa (IMS).
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