Shares of Lupin have moved higher by nearly 5% to Rs 813, also its record high, in otherwise weak market on the National Stock Exchange (NSE) on overseas acquisition report.
The stock opened at Rs 777 and has seen a combined around 1 million shares changing hands on the counter so far on NSE and BSE.
According to PTI reports, drug firm is looking at acquisitions mainly in Latin America as it intends taking both organic and inorganic routes for future growth of the company.
Meanwhile, the company is planning to increase the limit of foreign institutional investment (FII) in the company from 33% to 49%.
The company has already got board approval and will take the shareholders nod at the forthcoming Annual General Meeting (AGM).
As on March 2013, FIIs held 28.8% stake in the company, the BSE data shows.
The stock opened at Rs 777 and has seen a combined around 1 million shares changing hands on the counter so far on NSE and BSE.
According to PTI reports, drug firm is looking at acquisitions mainly in Latin America as it intends taking both organic and inorganic routes for future growth of the company.
Meanwhile, the company is planning to increase the limit of foreign institutional investment (FII) in the company from 33% to 49%.
The company has already got board approval and will take the shareholders nod at the forthcoming Annual General Meeting (AGM).
As on March 2013, FIIs held 28.8% stake in the company, the BSE data shows.
