Lupin has moved higher by 3.3% at Rs 863, also its lifetime high on BSE, after the pharmaceutical company said the foreign institutional investors (FIIs) have raised their holdings in the company by nearly 2 percentage points during the recently concluded quarter.
FIIs holdings in the company have crossed 30% mark to 30.67% in June quarter from 28.8% at the end of March quarter. The overseas investors held 27.76% stake in the company in December 2012 quarter.
About 82, FIIs have bought 8.46 million equity shares of Lupin during April-June quarter, according to the latest shareholding pattern filed by the company.
Meanwhile, the board had 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.
The stock has outperformed the market by surging 40% so far in current calendar year 2013 compared to 0.03% fall in benchmark Sensex and 14% rise in healthcare index.
Today, the stock opened at Rs 840 and hit a low of Rs 839 so far. A combined 608,416 shares have changed hands on the counter till 1214 hours on BSE and NSE.
FIIs holdings in the company have crossed 30% mark to 30.67% in June quarter from 28.8% at the end of March quarter. The overseas investors held 27.76% stake in the company in December 2012 quarter.
About 82, FIIs have bought 8.46 million equity shares of Lupin during April-June quarter, according to the latest shareholding pattern filed by the company.
Meanwhile, the board had 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.
The stock has outperformed the market by surging 40% so far in current calendar year 2013 compared to 0.03% fall in benchmark Sensex and 14% rise in healthcare index.
Today, the stock opened at Rs 840 and hit a low of Rs 839 so far. A combined 608,416 shares have changed hands on the counter till 1214 hours on BSE and NSE.
